On December 31, 2014, Pacer Co. adopted the dollar-value LIFO retail inventory method. Inventory data for 2015 are as follows: Under the LIFO retail method, Pacer's inventory at December 31, 2015, should be
A) $904,000.
B) $962,500.
C) $977,500. d $1,000,250.

Question

On December 31, 2014, Pacer Co. adopted the dollar-value LIFO retail inventory method. Inventory data for 2015 are as follows:  Under the LIFO retail method, Pacer's inventory at December 31, 2015, should be
A) $904,000. 
B) $962,500. 
C) $977,500. d $1,000,250.

Quizplus · Accepted Answer

The Answer of On December 31, 2014, Pacer Co. adopted the dollar-value LIFO retail inventory method. Inventory data for 2015 are as follows:  Under the LIFO retail method, Pacer's inventory at December 31, 2015, should be
A) $904,000. 
B) $962,500. 
C) $977,500. d $1,000,250.