Use the Following Information for Questions 125 Through 127

question 142

Multiple Choice

Use the following information for questions 125 through 127.
Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Its inventory at that date was $550,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows:
-What is the cost of the ending inventory at December 31, 2015 under dollar-value LIFO?

• A) $580,000.
• B) $578,500.
• C) $582,100.
• D) $600,000.

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