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Michael Jones Company has adopted the dollar-value LIFO method in 2018. At December 31, 2018, the ending inventory at dollar-value LIFO is $103,000, with a
Michael Jones Company has adopted the dollar-value LIFO method in 2018. At December 31, 2018, the ending inventory at dollar-value LIFO is $103,000, with a price index of 1.00. At December 31, 2019, the ending inventory using FIFO is $125,000. The price index is 1.3 in 2019. Round all dollar amounts to the nearest dollar. What is the ending inventory using dollar-value LIFO at December 31, 2019? O A. OB OC. OD, $98,154 $125,000 $199.154 $103,000
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