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What is the inventory balance using dollar-value LIFO

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Question - Opera Corp. uses the dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Dec 31, 20X0, Inventory at end-of-year prices = $65,000 (price index = 1.00); Dec 31, 20X1, Inventory at end-of-year prices = $126,000 (price index = 1.05); Dec 31, 20X2, Inventory at end-of-year prices = $135,000 (price index = 1.10). What is the 20X0 inventory balance using dollar-value LIFO?

$65,000

$61,904

$122,727

$135,000

Reference no: EM131692159

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