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On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory cost on...

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Finance

On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory cost on this date was $101,400. The ending inventory, valued at year-end costs, and the relative cost index for each of the next three years is below:

Year-End Ending Inventory at Year-End Costs Cost Index
2024 $ 130,410 1.05
2025 149,160 1.10
2026 159,480 1.20

What inventory balance should the company report on its 12/31/2024 balance sheet?

Multiple Choice

$130,200

$125,340

$124,200

$101,400

Answer & Explanation Solved by verified expert
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