Udon Incadopted Dollar-Value LIFO (DVL)as of January 1,2016,when It Had an an Inventory

question 120

Multiple Choice

Udon Inc.adopted dollar-value LIFO (DVL) as of January 1,2016,when it had an inventory of $700,000.Its inventory as of December 31,2016,was $777,000 at year-end costs and the cost index was 1.05.What was DVL inventory on December 31,2016?

• A)$735,000.
• B)$740,000.
• C)$742,000.
• D)$777,000.

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