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Waterway Industries had January 1 inventory of $302000 when it adopted dollar-value LIFO. During the year, purchases were $1770000 and sales were $2940000. December 31

Waterway Industries had January 1 inventory of $302000 when it adopted dollar-value LIFO. During the year, purchases were $1770000 and sales were $2940000. December 31 inventory at year-end prices was $421800, and the price index was 111.

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Waterway Industries had January 1 inventory of $302000 when it adopted dollar-value LIFO. During the year, purchases were $1770000 and sales were $2940000. December 31 inventory at year-end prices was $421800, and the price index was 111. What is Waterway Industries's gross profit? O $1256580. O $2551420. $1289800. O $1218000

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