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Michael Jones Company has adopted the dollar-value LIFO method in 2014. At December 31, 2014, the ending inventory at dollar-value LIFO is $100,000, with a

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Michael Jones Company has adopted the dollar-value LIFO method in 2014. At December 31, 2014, the ending inventory at dollar-value LIFO is $100,000, with a price index of 1.00. At December 31, 2015, the ending inventory using FIFO is $125,000. The price index is 1.30 in 2015. Round all dollar amounts to the nearest dollar. What is the ending inventory using dollar-value LIFO at December 31, 2015? A)$100,000 $125,000 $119,231 DO $96,154

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