Marigold Corp. had January 1 inventory of $309000 when it adopted dollar-value LIFO. During the year, purchases were $1720000 and sales were $3010000. December 31 inventory at year-end prices was $438900, and the price index was 114. What is Marigold Corp.s gross profit? $1376640. $1168000. $2614360. $1419900.

Marigold Corp. had January 1 inventory of $309000 when it adopted dollar-value LIFO. During the year, purchases were $1720000 and sales were $3010000. December 31 inventory at year-end prices was $438900, and the price index was 114. What is Marigold Corp.'s gross profit? $1376640. $1168000. $2614360. $1419900