Question
Opera Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended December 31 Inventory
Opera Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:
| Year ended December 31 |
| Inventory at End-of-year Prices |
| Price Index | ||
| 2016 |
| $ 650,000 |
|
| 1.00 | |
| 2017 |
|
| 1,260,000 |
|
| 1.05 |
| 2018 |
|
| 1,350,250 |
|
| 1.10 |
What is the 2017 inventory balance using dollar-value LIFO?
| $1,227,500. |
| $1,260,000. |
| $1,257,500. |
| $1,285,000. |
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Principles Of Econometrics
Authors: R Carter Hill, William E Griffiths, Guay C Lim
5th Edition
1118452275, 9781118452271
