- 75 Question 10 A company has the following information available that was used to report inventory using the dollar-value LIFO method. Year 12/31/2020 12/31/2021 Year-End Cost $ 250,000 259,000 Cost Index 1.00 1.06 For the year ended 12/31/2021, the company reported inventory of $274,540 ($259,000 1.06). Which of the following statements is correct? 1 A) The amount reported for ending inventory should be calculated as $250,000 +($9,000/1.06). 2 B) The amount reported for ending inventory should be calculated as $250,000 +($9,000 ~ 1.06). 3 C) The amount reported for ending inventory should be calculated as $259,000/1.06. D) The amount reported for ending inventory is correct