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What is the cost of ending inventory on December

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Question - Swifty Corporation adopted the dollar- value LIFO method of inventory valuation on December 31, 2016. Its inventory at that date was $1104000 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, 2017

$1296000

108

December 31, 2018

1445000

125

December 31, 2019

1625000

130

What is the cost of the ending inventory at December 31 , 2019 under dollar- value LIFO?

$1317880

$1250000

$1282360

$1274880.

Reference no: EM132350705

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