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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?

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Answer: $1365.00

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