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)
Definitions:
Inventory Management
The practice of overseeing and controlling the ordering, storage, and use of components and finished products.
Inventory Classification
The process of categorizing inventory items based on their importance, such as ABC analysis which ranks items by their impact on total inventory cost.
Fixed Quantity Systems
Inventory control systems where a fixed amount of inventory is reordered when stock levels reach a certain point.
Fixed Period Systems
An inventory management strategy where orders are placed at fixed intervals, regardless of the current stock level.
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