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

Johnson Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended Inventory at Price December 31 End-of-year Prices Index 2013 $250,000 1.00 2014 480,000 1.10 2015 560,000 1.25 What is the 2015 inventory balance using dollar-value LIFO? Question 7Select one: A. $448,000 B. $469,545 C. $560,000 D. $700,000

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