21. John Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2012 Information regarding inventory for subsequent years is as follows Date December 31, 2012 December 31, 2013 December 31, 2014 Inventory at Current Prices S210,000 267,500 290,000 Current Price Index 100 107 125 What is the cost of the ending inventory at December 31, 2013 under dollar-value LIFO? a. $267,500 b. S252,800 c. $224,700 d. $286,225 e. $250,000 Depreciation and Impairment-Chapters 11 and 12 22. Julie Corporation purchased factory equipment that was installed and put into service January 2, 2012, at a total cost of S90,000. Salvage value was estimated at $10,000. The equipment is being depreciated over five years using the double-declining balance method. For the year 2013 (2nd year), Julie should record depreciation expense on this equipment of a. S21,600 b. $18,000 c. $36,000 d. $19,200 e. S 8,000