Hogan Industries Had the Following Inventory Transactions Occur During 2022

question 105

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 FIFO? (rounded to whole dollars)

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

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Definitions:

Cohort Differences

Cohort differences refer to variations in characteristics, attitudes, or experiences among groups of individuals who were born around the same period.

Longitudinal Studies

Research designs that involve repeated observations or measurements of the same subjects over a period of time, often years or decades, to track changes and developments.

Cross-Sectional Studies

Research design to analyze data from a population, or a representative subset, at one specific point in time.