Caribou get up to 600/700 lbs. .223 seems a little on the anemic side for such large animals.
Usually caribou are not even half of 600-700 lbs, and are much less tough to kill than elk, for example.
Alaskans can take caribou for ‘subsistence’ and historically have frequently used cheap military surplus rounds.
That would be an extremely large Caribou.
Weights of adult bulls average 350 400 lbs (159 182 kg). Mature females average 175 225 lbs (80 120 kg). The dressed weight of a 400-lb (181-kg) caribou is about 240 (109 kg) lbs. This equates to about 100 lbs (45 kg) of meat.
Caribou Hunting in Alaska
http://www.adfg.alaska.gov/index.cfm?adfg=caribouhunting.main
It does seem rather light for the bear. At least it is less than I want to carry for black bear.
Go for the head shot.Effective and doesn’t ruin any meat.