Given the following data, calculate the cost of ending inventory using the FIFO costing method.
A. $720
B. $740
C. $915
D. $545
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Given the following data, calculate the cost of ending inventory using the LIFO costing method.
A. $2,069
B. $2,274
C. $2,425
D. $1,940
Given the following data, by how much would taxable income change if FIFO is used rather than LIFO?
A. Decreaseby$19,000
B. Increaseby$20,000
C. Increaseby$19,000
Decreaseby$20,000
Given the following data, what would the income tax amount be if the company uses FIFO?
A. $8,960
B. $10,200
C. $13,440
D. $6,800
Given the following data, what would the net income after taxes be if the company uses LIFO?
A. $8,960
B. $12,720
C. $13,440
D. $6,800