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Oriole Company had a January 1 inventory of $293000 when it adopted dollar-value LIFO. During the year, purchases were $1780000 and sales were $2940000.
Oriole Company had a January 1 inventory of $293000 when it adopted dollar-value LIFO. During the year, purchases were $1780000 and sales were $2940000. December 31 inventory at year-end prices was $439570, and the price index was 113. What is Oriole Company's gross profit? $2538520. O $1217910. O $1306570. O $1268480.
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
