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. In 2021, Lamar's Retail Store changes its inventory method from FIFO to LIFO. Lamar's uses the simplified LIFO method. Lamar's year-end inventory under FIFO
. In 2021, Lamar's Retail Store changes its inventory method from FIFO to LIFO. Lamar's uses the simplified LIFO method. Lamar's year-end inventory under FIFO is as follows: 2020 - $350,000; 2021 - $400,000. The 2020 price index is 105% and the 2021 index is 112%. The 2021 layer is (rounded)
A) $19,097.
B) $20,833.
C) $26,667.
D) $50,000.
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