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Blossom Company had a January 1 inventory of $295000 when it adopted dollar-value LIFO. During the year, purchases were $1750000 and sales were $3040000. December

Blossom Company had a January 1 inventory of $295000 when it adopted dollar-value LIFO. During the year, purchases were $1750000 and sales were $3040000. December 31 inventory at year-end prices was $386280, and the price index was 111.

What is Blossom Company's gross profit?

$1343530

O $1348830

$1381280

$2686170

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