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(5 points) GGS Corp. adopted Dollar Value LIFO on 12/31/2020. Their inventory value that day was $536,000. On 12/31/2021, the company reported inventory worth $688,000
(5 points) GGS Corp. adopted Dollar Value LIFO on 12/31/2020. Their inventory value that day was $536,000. On 12/31/2021, the company reported inventory worth $688,000 at end of year prices and the price index was 107. On 12/31/2022, inventory value was $608,000 and the price index was 126, and on 12/31/2023, inventory was $970,000 with a price index of 133. What should the company report as ending inventory on 12/31/2023? (A 14) $646,085 O $729,323 $810,761 $970,000
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