Hogan Industries had the following inventory transactions occur during 2014: 
The company sold 102 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:
Monetary Winnings
Funds or gains received as a result of winning a game, competition, bet, or lawsuit.
Variable-Ratio
A schedule of reinforcement where a response is rewarded after an unpredictable number of responses, often used in behavior modification.
State Lottery Tickets
Tickets sold by a governmental entity, allowing participants a chance to win monetary prizes through a random drawing process.
Resistance To Extinction
The persistence of learned behavior or response patterns even after the removal of the reinforcing stimulus.
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