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What is the companys gross profit using lifo

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Hogan Industries had the following inventory transactions occur during 2012: Units Cost/Unit Feb.1, 2012 Purchase 18 $45 Mar. 14, 2012 Purchase 31 $47 May 1, 2012 Purchase 22 $49 The company sold 51 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 LIFO? (rounded to whole dollars)

Reference no: EM13515161

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