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Udon Inc Adopted Dollar-Value LIFO (DVL) as of January 1, 2013

Question 124

Multiple Choice

Udon Inc. adopted dollar-value LIFO (DVL) as of January 1, 2013, when it had an inventory of $700,000. Its inventory as of December 31, 2013, was $777,000 at year-end costs and the cost index was 1.05. What was DVL inventory on December 31, 2013?


A) $735,000.
B) $740,000.
C) $742,000.
D) $777,000.

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