$16,5 QUESTION 17 Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31,...

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$16,5 QUESTION 17 Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Information regarding inventory for subsequent years is as follows. What is the cost of the ending inventory at December 31, 2016 under dollar-value LIFO? Date December 31, 2013 Inventory at Current Prices Current Price Index $550,000 100 December 31, 2014 $642,000 107 December 31, 2015 725,000 125 December 31, 2016 812,500 130 $640,600 $637,000 $625,000 $658,500 $16,5 QUESTION 17 Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Information regarding inventory for subsequent years is as follows. What is the cost of the ending inventory at December 31, 2016 under dollar-value LIFO? Date December 31, 2013 Inventory at Current Prices Current Price Index $550,000 100 December 31, 2014 $642,000 107 December 31, 2015 725,000 125 December 31, 2016 812,500 130 $640,600 $637,000 $625,000 $658,500

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To determine the cost of the ending inventory at December 31 2016 under the dollarvalue LIFO method ... View the full answer