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Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. les inventory at that date was $1,150,000 and the relevant price
Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. les 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 $1,150,000 100 December 31, 2020 1.296,000 108 December 31, 2021 1.450,000 125 December 31, 2022 1.638,000 130 What is the cost of the ending inventory at December 31, 2020 under dollar value LIFO? $1207.000 None of these $1,212,000 $1,204,000
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