Sheridan Company had a January $1$ inventory of $$308000$ when it adopted dollar$-$value LIFO. During the year, purchases were

$$1900000$ and sales were $$3070000.$ December $31$ inventory at year$-$end prices was $$371520,$ and the price index was $108.$

What is Sheridan Company's gross profit?

$$1233520$

$$1208880$

$$1205280$

$$2723120$