It also asks for 2016 as well.

Use the following to answer questions 58-60: Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Its inventory at that date was $550,000 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, 2014 $642,000 107 December 31, 2015 725,000 125 December 31, 2016 812,500 130 58. What is the cost of the ending inventory at December 31, 2014 under dollar-value LIFO? A) $600,000. B) $642,000. C) $603,500. D) $588,500. 59. What is the cost of the ending inventory at December 31, 2015 under dollar-value LIFO? A) $580,000. B) $578,500. C) $582,100. D) $600,000