Question 29 of 50

- / 4

View Policies

Current Attempt in Progress

Vaughn Manufacturing adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1030000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows:

Date		Inventory at Current Prices			Current Price Index
December 31, 2020			$1281000			107
December 31, 2021			1401000			125
December 31, 2022			1626000			130

What is the cost of the ending inventory at December 31, 2020 under dollar-value LIFO? (Round intermediate calculations and final answer to 0 decimal places, e.g. 10,000.)

$1281000.

$1208900.

$1102100.

$1197196.