[the LAST Coffee]

I saw a question on Ninja MCQ concerning a item bought in 1923 for $900 and was later sold for $1500 in 2015 and while I picked the right answer that it is $600 LT gain, I am not entirely sure this is a good method.

You see, that item is worth $12,000 is today’s money so clearly no gain should be recognized. Anybody want to comment?

FAR 84 (AUG '15)
BEC 83 (AUG '15)
AUD 79 (OCT '15)
REG 71, 78! (NOV '15, FEB '16)