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Wright Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Its inventory at that date was $400,000 and the relevant price

  1. Wright Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Its inventory at that date was $400,000 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, 2014 $550,000 125

December 31, 2015 500,000 140

December 31, 2016 812,500 130

What is the cost of the ending inventory at December 31, 2014 under dollar-value LIFO?

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