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Hogan Industries Had the Following Inventory Transactions Occur During 2014

Question 241

Multiple Choice

Hogan Industries had the following inventory transactions occur during 2014: 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) A) $944 B) $1,096 C) $767 D) $661 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)


A) $944
B) $1,096
C) $767
D) $661

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