Hogan Industries Had the Following Inventory Transactions Occur During 2022

question 26

Multiple Choice

Hogan Industries had the following inventory transactions occur during 2022: 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 LIFO? (rounded to whole dollars)

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

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