What is the ending inventory figure on the BS at the end of Year 2018 1. In the context of dollar-value LIFO, what is a LIFO layer? a. The difference between the LIFO inventory and the amount used for internal reporting purposes. b. The LIFO value of the inventory for a given year. c. The inventory in base year dollars. d. The LIFO value of an increase in the inventory for a given year. 2. Assuming no beginning inventory, what can be said about the trend of inventory prices if cost of goods sold computed when inventory is valued using the LIFO method exceeds cost of goods sold when inventory is valued using the FIFO method? a. Prices decreased. b. Prices remained unchanged. c. Prices increased. d. Price trend cannot be determined from information 3. In a period of rising prices, which inventory method generally provides the greatest amount of net income? a. Average cost. b. FIFO. c. LIFO. d. Specific identification. The year that a company adopts the dollar-value LIFO method is known as the Comnute the value of the ending inventorv using dollar-value I.IFO for 2015.2016.2017 and