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Hogan Industries Had the Following Inventory Transactions Occur During 2014

Question 223

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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, what is the company's gross profit using FIFO? (rounded to whole dollars) A) $4,882 B) $4,730 C) $1,696 D) $1,544 The company sold 102 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) $4,882
B) $4,730
C) $1,696
D) $1,544

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