Question: Please explain each equation used. Thank you Multiple Choice Question 109 Hogan Industries had the following inventory transactions occur during 2017: Feb. 1, 2017 Purchase

Please explain each equation used. Thank you

Please explain each equation used. Thank you Multiple Choice Question 109 Hogan

Multiple Choice Question 109 Hogan Industries had the following inventory transactions occur during 2017: Feb. 1, 2017 Purchase 108 $45 Mar. 14, 2017 Purchase 186 $47 May 1, 2017 Purchase 132 $49 Units Cost/unit The com pany 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 $1800, what is the company's after-tax income using LIFO? (rounded to whole dollars) $2302 $1982 $3288 $2832

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