Hogan Industries Had the Following Inventory Transactions Occur During 2022

question 65

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 and operating expenses of $1,800, what is the company's after-tax income using FIFO? (rounded to whole dollars)

• A)$2,832
• B)$3,288
• C)$2,302
• D)$1,982

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Definitions:

Negative Proposition

A statement or assertion that denies something, especially a predicate of a subject.

Disjunctive Syllogism

A form of logical argument where, from two alternatives, the denial of one implies the affirmation of the other.

Disjunctive Proposition

A logical statement that presents two or more alternatives, where the truth of any one of the alternatives makes the proposition true.

Disjuncts

Individual statements or propositions that, combined by "or" in a logical disjunction, present alternatives.