i need the answer quickly Cullumber Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:Year endedDecember 31Inventory atEnd-of-year PricesPriceIndex2024$ 6510001.002025202612550001.0513502501.10What is the 2025 inventory balance using dollar-value LIFO? (Round intermediate calculations and final answer to O decimal places, e.g.10,000.)

Inventory Valuation is a method of calculating the value of stock at the end of an accounting…

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What is the 2025 inventory balance using dollar-value LIFO?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 10MC: When the double-extension approach to the dollar-value LIFO inventory cost flow method is used, the...

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Question

i need the answer quickly

Cullumber Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:
Year ended
December 31
Inventory at
End-of-year Prices
Price
Index
2024
$ 651000
1.00
2025
2026
1255000
1.05
1350250
1.10
What is the 2025 inventory balance using dollar-value LIFO? (Round intermediate calculations and final answer to O decimal places, e.g.
10,000.)

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