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What is Hay Company’s gross profit

16. In the double-extension method, the value of the units
in inventory is extended at:

17. Web World began using dollar-value LIFO for costing
its inventory last year. The base year layer consists of
$400,000. Assuming the current inventory at end of year
prices equals $552,000 and the index for the current year is
1.10, what is the ending inventory using dollar-value LIFO?

18.

RF Company had January 1 inventory of $200,000 when it
adopted dollar-value LIFO. During the year, purchases were
$1,200,000 and sales were $2,000,000. December 31
inventory at year-end prices was $286,720, and the price
index was 112.

What is RF Company’s gross profit?