Hogan Industries Had the Following Inventory Transactions Occur During 2017

Multiple Choice

Hogan Industries had the following inventory transactions occur during 2017: $\begin{array}{rlll}&&\text { Units } & \text { Cost/unit } \\\text { Feb. 1,2017 } & \text { Purchase } & 108 & \$ 45 \\\text { Mar. 14,2017 } & \text { Purchase } & 186 & \$ 47 \\\text { May } 1,2017 & \text { Purchase } & 132 & \$ 49\end{array}$ 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) $14,646
B) $14,190
C) $5,088
D) $4,632