Use the Following Information for 123 and 124

question 77

Multiple Choice

Use the following information for 123 and 124
Hay Company had January 1 inventory of $180,000 when it adopted dollar-value LIFO. During the year, purchases were $1,080,000 and sales were $1,800,000. December 31 inventory at year-end prices was $227,700, and the price index was 110.
-What is Hay Company's gross profit?

• A) $747,000.
• B) $749,700.
• C) $767,700.
• D) $1,590,300.