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Hogan Industries Had the Following Inventory Transactions Occur During 2022

Question 26

Multiple Choice

Hogan Industries had the following inventory transactions occur during 2022: Hogan Industries had the following inventory transactions occur during 2022: 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 LIFO? (rounded to whole dollars) A) $14,646 B) $14,190 C) $5,088 D) $4,632 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 LIFO? (rounded to whole dollars)


A) $14,646
B) $14,190
C) $5,088
D) $4,632

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