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(5 points) HNNB, Inc. adopted Dollar Value LIFO on 12/31/2020. Their inventory value that day was $513,000. On 12/31/2021, the company reported inventory worth $634,000
(5 points) HNNB, Inc. adopted Dollar Value LIFO on 12/31/2020. Their inventory value that day was $513,000. On 12/31/2021, the company reported inventory worth $634,000 at end of year prices and the price index was 103. On 12/31/2022, inventory value was $568,000 and the price index was 123 , and on 12/31/2023, inventory was $893,000 with a price index of 131 . What should the company report as ending inventory on 12/31/2022? (A 14) $551,456 $538,524 $568,000 $461,789
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