The document discusses net income and provides accounting data for Brankovich Tool and Die, Inc. The company sold 200 units for total sales of $70,000 with operating expenses of $20,000. The document states the net income is not $48,980 but does not provide the correct calculation.

1. Please solve using the LIFO method, what is Net Income? The answer is not 48,980! Thank you
for the help
Use the following information for questions #9-14: The following data was obtained from the
records of Brankovich Tool and Die, Inc., for the current year: The company sold 200 units
during the year. Sales for the year are $70 , 000 ; operating expenses are $20 , 000