Daniel company uses a periodic inventory system. data for the current year: beginning merchandise inventory (ending inventory december 31, prior year), 2,000 units at $38; purchases, 8,000 units at $4

Daniel company uses a periodic inventory system. data for the current year: beginning merchandise inventory (ending inventory december 31, prior year), 2,000 units at $38; purchases, 8,000 units at $40; expenses (excluding income taxes), $194,500; ending inventory per physical count at december 31, current year, 1,800 units; sales, 8,200 units; sales price per unit, $75; and average income tax rate, 30 percent.