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Bonita Industries adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1104000 and the relevant price
Bonita Industries adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1104000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows:
Date | Inventory at Current Prices | Current Price Index | ||||
December 31, 2020 | $1276000 | 107 | ||||
December 31, 2021 | 1458000 | 125 | ||||
December 31, 2022 | 1627000 | 130 |
What is the cost of the ending inventory at December 31, 2022 under dollar-value LIFO? (Round intermediate calculations and final answer to 0 decimal places, e.g. 10,000.)
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