Hay Company had January 1 inventory of $300,000 when it adopted dollar-value LIFO. During the year, purchases were $1,800,000 and sales were $3,000,000. December 31 inventory at year-end prices was $379,500, and the price index was 110.

What is Hay Company's ending inventory?

Group of answer choices

$349,500.

$345,000.

$330,000.

$379,500.

What is Hay Company's gross profit?

Group of answer choices

$1,245,000.

$2,650,500.

$1,249,500.

$1,279,500.