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, and operating expenses of $600, what is the company's after-tax income using LIFO? (rounded to whole dollars)
Definitions:
Exclusive Agency Contract
A binding agreement between a principal and an agent granting the agent the sole rights to act on the principal's behalf within a certain market area or for specified activities.
Principal
The initial amount of money invested or lent, excluding any interest or profit.
Agent
An individual authorized to act on behalf of another, known as the principal, in legal or business matters.
Specific Power of Attorney
A legal document that grants an agent the authority to act on behalf of the principal in specific matters or transactions.
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