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Question 7 Bonita Industries uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended Inventory

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Question 7 Bonita Industries 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 $645000 1 2016 2017 2018 1253700 1.05 1342550 1.10 What is the 2017 inventory balance using dollar-value LIFO? $1221450. O $1251450. $1278700 O $1253700

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