单选题 The following information has been gathered about a firm:
LIFO inventory = $10000
Beginning LIFO reserve = $ 2500
Ending LIFO reserve = $ 4000
LIFO Cost of goods sold = $15000
LIFO net income = $ 1500
Tax rate is 40%
What is the FIFO net income?

A. $ 2400.
B. $ 4000.
C. $ 2800.

【正确答案】 A

【答案解析】FIFO net income = LIFO net income + (change in LIFO reserve) (1-t) = $1500+(4000 -2500)×(1-0.4) = $2400.