Given the following inventory information
问题:
Given the following inventory information about the Buckner Company: Year-end LIFO inventory of $ 6500. Year-end LIFO reserve of $ 2500. The current year’ s LIFO cost of goods sold is $15000. After tax income is $1600. The previous year’s LIFO reserve was $ 2000. What is the firm’ s after tax net income on a FIFO basis if the firm’ s tax rate is 40 percent
A.
A. $ 2100. |
B.
B. $1300. |
C.
C. $1900. |