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Crane Company had January 1 inventory of $292000 when it adopted dollar-value LIFO. During the year, purchases were $1750000 and sales were $3080000. December 31

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Crane Company had January 1 inventory of $292000 when it adopted dollar-value LIFO. During the year, purchases were $1750000 and sales were $3080000. December 31 inventory at year-end prices was $439570, and the price index was 113. What is Crane Company's gross profit? O $2678390. O $1439610. O $1198000. O $1477570

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