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Question - Swifty Corporation adopted the dollar- value LIFO method of inventory valuation on December 31, 2016. Its inventory at that date was $1104000 and the relevant price index was 100. Information regarding inventory for Subsequent years is as follows:
Date
Inventory at Current Prices
Current Price Index
December 31, 2017
$1296000
108
December 31, 2018
1445000
125
December 31, 2019
1625000
130
What is the cost of the ending inventory at December 31 , 2019 under dollar- value LIFO?
$1317880
$1250000
$1282360
$1274880.
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