Opera Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past...
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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 Inventory at Price December 31. End-of-year Prices Index 2016 $ 650,000 1.00 2017 1,260,000 1.05 2018 1,350,250 1.10 What is the 2018 inventory balance using dollar-value LIFO? a. $1,350,250. b. $1,285,000. c. $1,227,500. d. $1,257,750.
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