Use the Following Information for

question 95

Multiple Choice

Use the following information for
AJ Company had January 1 inventory of $100,000 when it adopted dollar-value LIFO.During the year, purchases were $600,000 and sales were $1,000,000.December 31 inventory at year-end prices was $143,360, and the price index was 112.
-What is AJ Company's gross profit?

• A)$428,000.
• B)$431,360.
• C)$443,460.
• D)$868,640.

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