Bramble Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1010000 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 $1010000 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 | $1273000 | 108 | ||||
| December 31, 2021 | 1470000 | 126 | ||||
| December 31, 2022 | 1620000 | 131 | ||||
What is the cost of the ending inventory at December 31, 2020 under dollar-value LIFO?
A- $1192200.
B- $1090800.
C- $1178704.
D- $1273000.
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Authors: Arnold J. Pahler
9th Edition
0324233531, 978-0324233537
