Question: 1. In 2020, Diana's Department Store changes its inventory method from FIFO to LIFO. Diana's uses the simplified LIFO method. Diana's year-end inventory under FIFO

1. In 2020, Diana's Department Store changes its inventory method from FIFO to LIFO. Diana's uses the simplified LIFO method. Diana's year-end inventory under FIFO is as follows: 2019 - $250,000; 2020 - $300,000. The 2019 price index is 105% and the 2020 index is 115%. The 2020 layer is

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