Question

Multiple Choice Question 115 Pina Colada Corp. had the following inventory transactions occur during 2022: Feb. 1, 2022 Purchase Mar. 14, 2022 Purchase May 1, 2022 Purchase Units Cost/unit 99 $99 171 $103 121 $108 The company sold 281 units at $139 each and has a tax rate of 30%. Assuming that a periodic inventory system is used and operating expenses of $2750, what is the company's after-tax income using FIFO? O $5394.90 O $4732.70 O $6761.00 O $7707.00 Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER F

Answer 1

Answer.

Option A is the correct.

Please find the attached solution.

Please upvote if it meets your requirement.

Thank you.

# .. After tax Income_using fifo : sales $39059 (28l units @[139] lexo: Cost of Goods sold * :1 (0.28602) -Cusing fifo] Gross befit 10457 operating expenses (2750) Net income 7707 Taxation (30%) (2312-1) Net income After Tax S 394-90 Jess: * cost of Gooels sold: (fizfo) first in first out 28 units [@atunits $29)+( Alumin@4_103)+ (1/2108 19801 + $17613 + $_1188] Hencer oftion A is corred. Requirement Please uprate if it meets your THANKS CS Scanned with CamScanner