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Sheffield Corp. had a January 1 inventory of $ 295000, when it adopted dollar-value LIFO. During the year, purchases were $ 1820000 and sales were

Sheffield Corp. had a January 1 inventory of $295000, when it adopted dollar-value LIFO. During the year, purchases were $1820000 and sales were $3080000. December 31 inventory at year-end prices was $371520, and the price index was 108.

What is Sheffield Corp.'s gross profit?

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