Question 38
2 pts
On December 31, 2017, the River Company adopted the dollar value LIFO inventory costing method. River's inventory constitutes a single
pool. Inventory data follow:
Date Inventory at Current Year End Prices Price Index
12/31/17 $245,000 100
12/31/18 $262,986 106
12/31/19 $302,898 114
What inventory balance should the River Company show on its December 31, 2019 balance sheet, assuming it uses the dollar value LIFO
inventory costing method?