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, and operating expenses of $1,800, what is the company's after-tax income using LIFO? (rounded to whole dollars)
A)$2,832
B)$3,288
C)$2,302
D)$1,982

Question

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, and operating expenses of $1,800, what is the company's after-tax income using LIFO? (rounded to whole dollars)
A)$2,832 
B)$3,288 
C)$2,302 
D)$1,982

Quizplus · Accepted Answer

The Answer of 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, and operating expenses of $1,800, what is the company's after-tax income using LIFO? (rounded to whole dollars)
A)$2,832 
B)$3,288 
C)$2,302 
D)$1,982

Hogan Industries Had the Following Inventory Transactions Occur During 2022