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What dollar value LIFO inventory cost would be reported

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Question - In Year 5, Longley, Inc. (Longley) adopted the dollar value LIFO inventory method. At that time, Longley's ending inventory had a base-year cost and an end of year cost of $300,000. In year 6, the ending inventory had a $400,000 base year cost and a $440,000 end-of-year cost. What dollar value LIFO inventory cost would be reported on Longley's December 31, Year 6, balance sheet?

Reference no: EM132526499

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