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

Year ended
December 31

Inventory at
End-of-year Prices

Price
Index

2016

$ 650,000

1.00

2017

1,260,000

1.05

2018

1,350,000

1.10

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

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92771794

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