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What is Apple NOPAT

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Reference no: EM132903696

Question - Apple Inc. uses LIFO for inventory. Apples's NOA at 12/31/19 and 12/31/20 was $147,253 and $165,123, respectively. Apple's 2019 and 2020 NOPAT was $17,200 and $18,500, respectively. Apple's disclosed LIFO reserve at 12/31/19 and 12/31/20 was $5,300 and $4,650, respectively. Apple's marginal tax rate is 20%. What is Apple's NOPAT (as of 12/31/20) after adjusting the financial statements to "as-if" FIFO?

Reference no: EM132903696

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