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Hogan Industries Had the Following Inventory Transactions Occur During 2022

question 26

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Hogan Industries had the following inventory transactions occur during 2022: 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 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)


Definitions:

Left Atrium

The upper left chamber of the heart that receives oxygenated blood from the lungs and pumps it into the left ventricle.

Left Ventricle

The chamber of the heart responsible for pumping oxygenated blood to the body.

Mitral Valve

A valve in the heart that lies between the left atrium and the left ventricle, regulating blood flow.

Veins

Blood vessels that carry blood towards the heart, as opposed to arteries which carry blood away from the heart.

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