Question
Bramble Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1102000 and the relevant price
Bramble Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1102000 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 $1271000 107
December 31, 2021 1441000 125
December 31, 2022 1628000 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.)
$1252308.
$1319308.
$1276308.
$1285716.
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