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 current year Prices Index 2019 $ 650,000 1.00 2020 1,260,000 1.05 2021 1,350,250 1.10 What is the 2020 inventory balance using dollar-value LIFO?

Sep 8, 2023

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 current year   Prices Index

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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 current year Prices Index 2019 $ 650,000 1.00 2020 1,260,000 1.05 2021 1,350,250 1.10 What is the 2020 inventory balance using dollar-value LIFO?
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2019                                                         $ 650,000                          1.00

2020                                                         1,260,000                          1.05

2021                                                         1,350,250                          1.10

What is the 2020 inventory balance using dollar-value LIFO?

 

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