Finished goods Prepaid insurance 97,000 6,000 What amount should Sierra report as inventories in its balance sheet? O A. $183,000. B. $97,000. C. $101,000. OD. $187,000. QUESTION 46 Sierra Company uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Price Index 1.00 1.05 1.10 Year ended Inventory at December 31 End-of-year Prices 2019 $ 650.000 2020 1,260,000 2021 1,350,250 What is the 2020 inventory balance using dollar-value LIFO? O A $1,227,500 O B. $1,260,000. C. $1,257,500. O D. $1,285,000. QUESTION 47 Sierra Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date wa as follows: Date December 31, 2020 Inventory at Current Prices $1,284,000 . Current Price Index 107