To Determine the Value of a LIFO Layer, Using Dollar-Value

Multiple Choice

To determine the value of a LIFO layer, using dollar-value LIFO retail:

A) Divide the LIFO layer by the layer year price index and multiply by the layer year cost-to-retail percentage.
B) Multiply the LIFO layer by the base year price index and the current year cost-to-retail percentage.
C) Multiply the LIFO layer by the layer year price index and by the layer year cost-to-retail percentage.
D) Divide the LIFO layer by the layer year cost-to-retail percentage and multiply by the layer year price index.