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Question 130

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Use the following information for questions.
Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2009.Its inventory at that date was $220,000 and the relevant price index was 100.Information regarding inventory for subsequent years is as follows: Use the following information for questions. Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2009.Its inventory at that date was $220,000 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, 2010 under dollar-value LIFO? A) $240,000. B) $256,800. C) $241,400. D) $235,400.
-What is the cost of the ending inventory at December 31, 2010 under dollar-value LIFO?


A) $240,000.
B) $256,800.
C) $241,400.
D) $235,400.

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