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What inventory balance would company a report

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Question - On January 1, 2021, Company A adopted the dollar-value LIFO method. The inventory cost on this date was $700,000. The ending inventory, valued at year-end costs, and the relative cost index for each of the next three years is below:

 

Year-end Cost

Cost Index

2021

840,000

1.05

2022

862,500

1.15

2023

1,037,500

1.25

Required - What inventory balance would Company A report on its 12/31/2023 balance sheet?

Reference no: EM133180628

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