Multiple Choice Question 110

Hogan Industries had the following inventory transactions occur during 2017:

Units Cost/ unit

Feb. 1, 2017 Purchase 95 $40

Mar. 14, 2017 Purchase 164 $41

May 1, 2017 Purchase 116 $43

The company sold 269 units at $55 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)

$10954

$3841

$3534

$11261