Question: Please help with multiple choice question. A company has the following information available that was used to report inventory using the dollar-value LIFO method. Year

Please help with multiple choice question.

A company has the following information available that was used to report inventory using the dollar-value LIFO method. Year Year-End Cost Cost Index 12/31/2020 $250,000 1.00 12/31/2021 259,000 1.06 For the year ended 12/31/2021, the company reported inventory of $274,540 ($259,000 1.06). Which of the following statements is correct? O The amount reported for ending inventory should be calculated as $250,000 + ($9,000 1.06). O The amount reported for ending inventory should be calculated as $250,000 + ($9,000/1.06). The amount reported for ending inventory is correct. O The amount reported for ending inventory should be calculated as $259,000/1.06

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