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Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1,150,000 and the relevant price

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Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1,150,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Inventory at Current Date Current Prices Price Index December 31, 2019 51.150,000 100 December 31, 2020 1.296,000 109 December 31, 2021 1,450,000 12 December 31, 2022 1.638,000 130 What is the cost of the ending inventory at December 31, 2019 under dollar value LFO None of these $1,150,000 $1,000,000 51.100,000

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