maljoh2099 maljoh2099

02-11-2022
Business

Answered

began 2016 with the following inventory layers 10,000 units at $15 $150,000 15,000 units at $20 300,000 total beginning inventory $450,000 during 2016, 30,000 units were purchased for $25 per unit 2016 sales totaled 40,000 units leaving 15,000 units in ending inventory required: calculate cgs for 2016 determine the amount of lifo liquidation profit that the company must report in a disclosure note to it 2016 financial statements. assume a 40% tax rate if the company decided to purchase an additional 10,000 units at $25 per unit at the end of the year, how much income tax currently payable would be saved?

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