Sunland Companyuses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:

Year ended

December 31Inventory at

End-of-year PricesPrice

Index2016$6470001201712558001.05201813447501.10

What is the 2018 inventory balance using dollar-value LIFO?

$1280800.

$1344750.

$1252600.

$1222500.

Sheffield Corp.uses the periodic inventory system. For the current month, the beginning inventory consisted of478units that cost $70each. During the month, the company made two purchases:722units at $73each and362units at $75each.Sheffield Corp.also sold1204units during the month. Using the LIFO method, what is the amount of cost of goods sold for the month?

$84280.

$88256.

$87350.

1. $86458.