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Marigold Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended December 31 2019
Marigold Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended December 31 2019 2020 Inventory at End-of-year Prices $651000 1255000 1350250 Price Index 1.00 1.05 2021 1.10 What is the 2020 inventory balance using dollar-value LIFO? (Round intermediate calculations and final answer to 0 decimal places, e.g. 10,000.) $1252450. O $1222450. O $1280000. O $1255000 Vaughn Manufacturing adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1150000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Date December 31, 2020 December 31, 2021 December 31, 2022 Inventory at Current Prices $1289000 1482000 Current Price Index 108 126 131 1624000 What is the cost of the ending inventory at December 31, 2020 under dollar- value LIFO? (Round intermediate calculations and final answer to 0 decimal places, e.g. 10,000.) O $1193519. $1197001. O $1242000. O $1289000
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