Whispering Winds Corp. had the following inventory transactions occur during 2022: ...
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Accounting
Whispering Winds Corp. had the following inventory transactions occur during 2022:
| Units | Cost/unit | |||||
|---|---|---|---|---|---|---|
| Feb. 1, 2022 | Purchase | 99 | $ 41 | |||
| Mar. 14, 2022 | Purchase | 171 | $ 43 | |||
| May 1, 2022 | Purchase | 121 | $ 45 |
The company sold 282 units at $ 58 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the companys gross profit using LIFO?
$ 4404
$ 12368
$ 11952
$ 3988
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