Oracle Company had January 1 inventory of $300,000 when it adopted dollar-value LIFO. During the...
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Oracle Company had January 1 inventory of $300,000 when it adopted dollar-value LIFO. During the year, purchases were $1,800,000 and sales were $3,000,000. December 31 inventory at year-end prices was $385,000, and the price index was 110. How much is Oracle's gross profit? $1,255,000 $2,645,000 O $1,250,000 $1,285,000
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