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could you please help me with this question and explain why and explain it step by step? Thank you!!
Q 8.182: On January 1 the Roland Company had inventory of $150,000 when it adopted dollar-value LIFO The sales during this year were $1,500,000 and the purchases were $900,000. The ending inventory at year end prices was $189,750, with a price index of 110. The Roland company gross profit was VA $624,750 B $600,000 C $550,250 D $450,000
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