Multiple Choice
Tiger Inc. adopted dollar-value LIFO on January 1, 2013, when the inventory value was $360,000 and the cost index was 1.25. On December 31, 2013, the inventory was valued at year-end cost of $395,000 and the cost index was 1.30. Tiger would report a LIFO inventory of:
A) $410,800.
B) $374,400.
C) $379,808.
D) $380,600.
Correct Answer:
Verified
Correct Answer:
Verified
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