Michael Jones Company Has Adopted the Dollar-Value LIFO Method in 2014.At

Multiple Choice

Michael Jones Company has adopted the dollar-value LIFO method in 2014.At December 31,2014,the ending inventory at dollar-value LIFO is $100,000,with a price index of 1.00.At December 31,2015,the ending inventory using FIFO is $125,000.The price index is 1.30 in 2015.Round all dollar amounts to the nearest dollar.What is the ending inventory using dollar-value LIFO at December 31,2015?

A) $100,000
B) $119,231
C) $96,154
D) $125,000