Hogan Industries Had the Following Inventory Transactions Occur During 2017

question 23

Multiple Choice

Hogan Industries had the following inventory transactions occur during 2017: $\begin{array}{rlll}&&\text { Units } & \text { Cost/unit } \\\text { Feb. 1,2017 } & \text { Purchase } & 108 & \$ 45 \\\text { Mar. 14,2017 } & \text { Purchase } & 186 & \$ 47 \\\text { May } 1,2017 & \text { Purchase } & 132 & \$ 49\end{array}$ The company sold 306 units at $63 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO? (rounded to whole dollars)

• A)$14,646
• B)$14,190
• C)$5,088
• D)$4,632

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Definitions:

Nocturia

A condition characterized by the excessive need to urinate during the night, disrupting sleep.

Urinary Frequency

The need to urinate more often than usual, which can be a symptom of various conditions, including urinary tract infections and diabetes.

Painful Bladder Syndrome

A condition characterized by chronic pelvic pain, pressure, or discomfort in the bladder area, often associated with urinary frequency and urgency.

Urinary Tract Infection

An infection in any part of the urinary system, including kidneys, ureters, bladder, and urethra, most commonly caused by bacteria.