Hogan Industries Had the Following Inventory Transactions Occur During 2022

question 107

Multiple Choice

Hogan Industries had the following inventory transactions occur during 2022: $$\begin{array} { r l l c } & & \text { Units } & \text { Cost/unit } \\\text { Feb. 1, 2022 } & \text { Purchase } & 108 & \$ 45 \\\text { Mar. 14,2022 } & \text { Purchase } & 186 & \$ 47 \\\text { May 1, } 2022 & \text { Purchase } & 132 & \$ 49\end{array}$$ 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)$14646
• B)$14190
• C)$5088
• D)$4632

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Definitions:

Dopamine

A neurotransmitter involved in various functions, including reward, motivation, memory, attention, and even regulating body movements.

Endorphins

Neurochemicals produced by the brain that act as natural painkillers and also boost feelings of pleasure or well-being.

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A category of diseases affecting the heart and blood vessels, often involving issues like coronary artery disease, heart rhythm problems, and heart defects.

Neurotransmitter

Chemical substances in the brain that transmit signals from one neuron to another, influencing various functions such as mood, sleep, and cognition.