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M&M Company had January 1 inventory of $291000 when it adopted value LIFO. During the year, purchases were $1830000 and sales were $2900000. December 31
M&M Company had January 1 inventory of $291000 when it adopted value LIFO. During the year, purchases were $1830000 and sales were $2900000. December 31 inventory at year end prices was 437760, and the price index was 114. What is Oriole Company's gross profit? please show how this commuted.
$2502980
$1176020
$1278000
$1216760
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Advanced Cost Accounting
Authors: J.K. Mitra
1st Edition
8122425941, 978-8122425949
