Question
Opera Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended Inventory at Price
Opera Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:
Year ended Inventory at Price
December 31. End-of-year Prices Index
2019 $ 650,000 1.00
2020 1,260,000 1.05
2021 1,350,250 1.10
What is the 2020 inventory balance using dollar-value LIFO?
a. $1,260,000.
b. $1,285,000.
c. $1,227,500.
d. $1,257,500.
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