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Blossom Company has a January 1 inventory of $290000 when it adopted dollar-value LIFO. During the year, purchases were $1700000 and sales were $2900000. December

Blossom Company has a January 1 inventory of $290000 when it adopted dollar-value LIFO. During the year, purchases were $1700000 and sales were $2900000. December 31 inventory at year-end prices was $367200, and the price index was 108.

What is Blossom Company's gross profit?

$1249000

$2556000

$1277200

$1254000

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