Exhibit 7-5 Sullivan Produce Co. switched from FIFO to LIFO on January 1, 2015, for external reporting and income tax purposes, while retaining FIFO for internal reports. On that date, the FIFC inventory equaled $360,000. The ensuing three-year period resulted in the following: Inventory Year-End Costs $438,000 460,000 520,000 Cost Index 1.05 1.15 1.25 Date December 31, 2015 December 31, 2016 December 31, 2017 Refer to Exhibit 7-5. The ending inventory at December 31, 2017, using the dollar-value LIFO method would be O $422,000 o $402,000 O$426,000 O$420,400