The Shill Company Uses the Dollar-Value LIFO Method for Valuing

question 51

Multiple Choice

The Shill Company uses the dollar-value LIFO method for valuing inventory. The following inventory information is available at the end of the year:
$\begin{array}{lrl}\text { Year } & \text { Year-End Price } & \text { Price Index } \\\hline1 & \$ 200,000 & 100 \\2 & 250,000 & 105 \\3 & 296,000 & 108 \\4 & 286,000 & 110\end{array}$
-The inventory under dollar-value LIFO at the end of Year 3 is

• A)$274,074.
• B)$276,800.
• C)$278,857.
• D)$300,000.

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Definitions:

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