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11.Coronado Industries had January 1 inventory of $294000 when it adopted dollar-value LIFO. During the year, purchases were $1800000 and sales were $3020000. December 31

11.Coronado Industries had January 1 inventory of $294000 when it adopted dollar-value LIFO. During the year, purchases were $1800000 and sales were $3020000. December 31 inventory at year-end prices was $423500, and the price index was 110.

What is Coronado Industries's gross profit?

$1248000.

$2625900.

$1349500.

$1320100.

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