In the below code, if the current drop-down value points to the value available in listvalues variable, then the drop-down selected value should be changed into first value.
   if (selectedForYear() == 2016) {
         var d = new Date();
         var month = d.getMonth();
         month = month + 3;
         while (month <= 13) {
             $('#dk_container_selectForMonth .dk_options li:nth-child(' + month + ')').css({ "display": 'none' });
             var listvalues = $('#dk_container_selectForMonth .dk_options li:nth-child(' + month + ')').text();
             if ($('#dk_container_selectForMonth .dk_options li.dk_option_current a').text() == listvalues) 
            {
                 $("#dk_container_selectForMonth").val($("#dk_container_selectForMonth li:first").val());
              }
             month++;
         }
     }
I have tried this:
$("#dk_container_selectForMonth").val($("#dk_container_selectForMonth li:first").val());
but it does not work.
Here is the HTML:
<div class="flexContainer mediumGutter">
    <div class="flexContent">
        <select data-bind="options: month, optionsCaption: 'Month', value: selectedForMonth" id="selectForMonth" tabindex="8" style="width: 130px">
            <option>month</option>
        </select>
    </div>
    <div class="flexContent">
        <select data-bind="options: year, optionsCaption: 'Year', value: selectedForYear" id="selectForYear" tabindex="9" style="width: 130px">
            <option>year</option>
        </select>
    </div>
Is there any way to do this?
Sorry for answering my question. The answer may helps to someone.
By refreshing the drop-down using jquery dropkick() method, the drop-down gets refreshed and first value gets assigned.
$('#selectForMonth').dropkick('refresh');
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