Question: Duke Corp. uses the dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended December

Duke Corp. uses the dollar-value LIFO method of computing its inventory cost.

Duke Corp. uses the dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended December 31. Inventory at End-of-year Prices Price Index 2018 $650,000 1.00 2019 1,260,000 1.05 2020 1,350,250 1.10 What is Duke's 2019 inventory balance using dollar-value LIFO? $1,260,000. $1.257,500. $1.227,500. $1.285,000.

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