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Hogan Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 82$ 34 Mar. 14, 2017 Purchase 141 $36 May
Hogan Industries had the following inventory transactions occur during 2017:
Units Cost/unit
Feb. 1, 2017 Purchase 82$ 34
Mar. 14, 2017 Purchase 141 $36
May 1, 2017 Purchase 100 $37
The company sold 233 units at $48 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1368, what is the company's after-tax income using LIFO? (rounded to whole dollars)
$1107
$930
$1328
$1582
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