Tesla Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2018. Its...
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Tesla Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2018. Its inventory at that date was $990,000 and the relevant price index was 100. What is the cost of the ending inventory at December 31, 2020? Information regarding inventory for subsequent years is as follows: Inventory at Date Current Price Index Current Prices December 31, 2019 $1,155,600 107 December 31, 2020 $1,305,000 125 December 31, 2021 $1,462,950 130 $1,044,00 $1,050,300 $1,080,000 $1,047,780
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