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Cullumber Company had a January 1 inventory of $310000 when it adopted dollar-value LIFO. During the year, purchases were $1720000 and sales were $3040000. December
Cullumber Company had a January 1 inventory of $310000 when it adopted dollar-value LIFO. During the year, purchases were $1720000 and sales were $3040000. December 31 inventory at year-end prices was $377400, and the price index was 111 . What is Cullumber Company's gross profit? $2696700$1350300$1353300$1387400
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