Question

Dole Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase...

Dole Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 92.0 $92.0 Mar. 14, 2017 Purchase 158.0 $96.0 May 1, 2017 Purchase 112.0 $100.0 The company sold 260.0 units at $129.0 each and has a tax rate of 30%. Assuming that a periodic inventory system is used and operating expenses of $2550.0, what is the company’s after-tax income using FIFO? (rounded to whole dollars)

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Hogan Industries had the following inventory transactions occur during 2017: Feb. 1, 2017 Purchase 36 $45...
Hogan Industries had the following inventory transactions occur during 2017: Feb. 1, 2017 Purchase 36 $45 Mar. 14, 2017 Purchase 62 $47 May 1, 2017 Purchase 44 $49 The company sold 102 units at $63 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO? (rounded to whole dollars)
Hogan Industries had the following inventory transactions occur during 2019: ………………………………….Units…………… Cost/unit Purchase on Feb. 1,...
Hogan Industries had the following inventory transactions occur during 2019: ………………………………….Units…………… Cost/unit Purchase on Feb. 1, 2019……….135 ……………….$37 Purchases on Mar. 14, 2019…….156 ……………….$39 Purchases on May 1, 2019 .……..150………………..$41 The company sold 306 units at $55 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s gross profit using LIFO? (rounded to whole dollars) Select one: A. $4,596 B. $5,136 C. $3,217.2 D. $3,595.2
Bramble Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase...
Bramble Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 88 $88 Mar. 14, 2022 Purchase 152 $92 May 1, 2022 Purchase 108 $96 The company sold 250 units at $123 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s gross profit using FIFO? $23432 $22688 $8062 $7318
Oriole Company had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase...
Oriole Company had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 101 $101 Mar. 14, 2022 Purchase 174 $105 May 1, 2022 Purchase 123 $110 The company sold 286 units at $141 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s gross profit using FIFO? $30645 $29681 $10645 $9681
Units Cost/unit Feb. 1, 2017 Purchase 95 $40 Mar. 14, 2017 Purchase 164 $41 May 1,...
Units Cost/unit Feb. 1, 2017 Purchase 95 $40 Mar. 14, 2017 Purchase 164 $41 May 1, 2017 Purchase 116 $43 The company sold 269 units at $55 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s gross profit using FIFO? (rounded to whole dollars)
Vaughn Manufacturing had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase...
Vaughn Manufacturing had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 110 $46 Mar. 14, 2022 Purchase 190 $48 May 1, 2022 Purchase 135 $50 The company sold 312 units at $64 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1836, what is the company’s after-tax income using LIFO?
Cheyenne Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022, Purchase...
Cheyenne Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022, Purchase 95 $40 Mar. 14, 2022 Purchase 164 $41 May 1, 2022 Purchase 116 $43 The company sold 269 units at $55 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1584, what is the company’s after-tax income using LIFO? $1365.00 $1950.00 $1579.90 $2257.00?
Part A. Multiple Choice Question 104 Delightful Discs has the following inventory data: Nov. 1 Inventory...
Part A. Multiple Choice Question 104 Delightful Discs has the following inventory data: Nov. 1 Inventory 25 units @ $4.90 each 8 Purchase 98 units @ $5.30 each 17 Purchase 49 units @ $5.15 each 25 Purchase 74 units @ $5.40 each A physical count of merchandise inventory on November 30 reveals that there are 82 units on hand. Ending inventory under LIFO is $425 $441 $869 853 Multiple Choice Question 91 Clear Clarinets has the following inventory data: July   1...
1 part A eriodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of...
1 part A eriodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 6 units at $44 $264 Aug. 7 Purchase 19 units at $46 874 Dec. 11 Purchase 13 units at $47 611 38 units $1,749 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a)...
Matlock Company’s beginning inventory consists of 50 units that cost $34 each. During June, (1) the...
Matlock Company’s beginning inventory consists of 50 units that cost $34 each. During June, (1) the company purchased 150 units at $34 each on account, (2) returned 6 units, and (3) sold 125 units at $50 each to a customer. Matlock uses FIFO to account for its inventory. All purchase and sale credit terms are n/30. 1: Journalize the month’s transactions assuming the use of a perpetual inventory system. 2: Journalize the month’s transactions assuming the use of a periodic...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT