Hogan Industries Had the Following Inventory Transactions Occur During 2022

question 115

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 LIFO? (rounded to whole dollars)

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

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Definitions:

Network Modeling

The method of creating a mathematical model to represent a system of interconnected elements or processes for analysis and optimization.

IT-Based Processes

Processes that rely on information technology to operate or deliver a service, encompassing everything from software development to data management.

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Extremely large data sets that are analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

Reverse Flows

The process of moving goods from their typical final destination for return, repair, remanufacturing, or recycling.