Hampton Corp. adopted the dollar-value LIFO method on December 31, 20X1 (the base year). Information regarding inventory for 20X1 through 20X3 is as follows: Date Inventory at Current Costs Price Index December 31, 20X1 $390,000 100% (or 1.00) December 31, 20X2 $420,000 105% (or 1.05) December 31, 20X3 $540,000 110% (or 1.10) Note: Round all calculations to the nearest whole dollar every time there is a calculation. 

Question: What is the cost of ending inventory at 12/31/X3 using the Dollar-Value-LIFO (DVL) method? 

Answer rating: 100% (QA)

To calculate the cost of ending inventory at December 31 20X3 using the DollarValue LIFO DVL method ... View the full answer