Multiple Choice
Linguini Inc. adopted dollar-value LIFO (DVL) as of January 1, 2013, when it had an inventory of $800,000. Its inventory as of December 31, 2013, was $811,200 at year-end costs and the cost index was 1.04. What was DVL inventory on December 31, 2013?
A) $780,000.
B) $800,000.
C) $811,200.
D) $832,000.
Correct Answer:
Verified
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