Question

Hogan Industries had the following inventory transactions occur during 2017: Feb. 1, 2017 Purchase 36 $45...

Hogan Industries had the following inventory transactions occur during 2017:

Feb. 1, 2017 Purchase 36 $45

Mar. 14, 2017 Purchase 62 $47

May 1, 2017 Purchase 44 $49

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)

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