Gizmo Corporation adopted the dollar-value method of accounting for its inventory on January 1, 2011.On that date, its ending inventory was valued at $90,000.On December 31, 2012, ending inventory's value at current prices was $120,000.If the current year index is 120%, the value of Gizmo's ending inventory is
A)$144,000
B)$108,000
C)$120,000
D)$102,000
E)None of the above

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The Answer of Gizmo Corporation adopted the dollar-value method of accounting for its inventory on January 1, 2011.On that date, its ending inventory was valued at $90,000.On December 31, 2012, ending inventory's value at current prices was $120,000.If the current year index is 120%, the value of Gizmo's ending inventory is
A)$144,000
B)$108,000
C)$120,000
D)$102,000
E)None of the above

Gizmo Corporation Adopted the Dollar-Value Method of Accounting for Its