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
Correct Answer:
Verified
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