Inventory

Use the following information for questions 18 and 19 Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1, 100,000 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, 2020 $1,284,000 107 December 31, 2021 1,450,000 125 December 31, 2022 1,625,000 130 20. What is the cost of the ending inventory at December 31, 2020 under dollar-value LIFO? a. $1,200,000. b. $1,284,000. c. $1,207,000. d. $1, 177,000. 21. What is the cost of the ending inventory at December 31, 2022 under dollar-value LIFO? a. $1,281,200. b. $1,274,000. . $1,250,000. d. $1,317,000