Multiple Choice
Ramen Inc. adopted dollar-value LIFO (DVL) as of January 1, 2009, when it had a cost inventory of $600,000. Its inventory as of December 31, 2009, was $667,800 at year-end costs and the cost index was 1.06. What was DVL inventory on December 31, 2009?
A) $630,000.
B) $631,800.
C) $636,000.
D) None of these is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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