Hogan Industries Had the Following Inventory Transactions Occur During 2022

question 35

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 and operating expenses of $1800 what is the company's after-tax income using LIFO? (rounded to whole dollars)

• A)$2832
• B)$3288
• C)$2302
• D)$1982

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Definitions:

Monitoring Behavior

The process of observing and recording the actions or reactions of individuals in different situations to understand or assess their performance or condition.

Parental Influence

The impact that parents have on their children's development, including their behaviors, values, and attitudes, through genetics, upbringing, and the home environment.

Discussing Sex

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Approachable

Being easy to approach or talk to, friendly and open to communication.