Question 23 1 pts Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1,100,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Inventory at Current Date Current Prices Price Index December 31, 2020 $1,284,000 107 December 31, 2021 1,450,000 125 December 31, 2022 1,625,000 130 What is the cost of the ending inventory at December 31, 2021 under dollar-value LIFO? O $1,164,200. $1,200,000 O $1,214,,000. $1,160,000. Question 24 1 pts Chess Top uses the periodic inventory system. For the current month, the beginning inventory consisted of 500 units that cost $5 each. During the month, the company made two purchases: 700 units at $6 each and 500 units at $7 each. Chess Top also sold 1,200 units during the month. Using the LIFO method, what is the amount of cost of goods sold for the month? O $6,700. O $7,700. O $3,500 O $2,500