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Use the Following Information for Questions 125 Through 127

Question 110

Multiple Choice

Use the following information for questions 125 through 127.
Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Its inventory at that date was $550,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Use the following information for questions 125 through 127. Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Its inventory at that date was $550,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: -What is the cost of the ending inventory at December 31, 2014 under dollar-value LIFO? A) $600,000. B) $642,000. C) $603,500. D) $588,500.
-What is the cost of the ending inventory at December 31, 2014 under dollar-value LIFO?


A) $600,000.
B) $642,000.
C) $603,500.
D) $588,500.

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