Bond Company adopted the dollar-value LIFO inventory method on January 1,2016.In applying the LIFO method,Bond uses internal cost indexes and the multiple-pools approach.The following data were available for Inventory Pool No.3 for the two years following the adoption of LIFO:
Under the dollar-value LIFO method,the inventory at December 31,2017,should be
A)$357,600.
B)$350,000.
C)$351,600.
D)None of these answer choices is correct.

Question

Bond Company adopted the dollar-value LIFO inventory method on January 1,2016.In applying the LIFO method,Bond uses internal cost indexes and the multiple-pools approach.The following data were available for Inventory Pool No.3 for the two years following the adoption of LIFO: 
Under the dollar-value LIFO method,the inventory at December 31,2017,should be
A)$357,600. 
B)$350,000. 
C)$351,600. 
D)None of these answer choices is correct.

Quizplus · Accepted Answer

The Answer of Bond Company adopted the dollar-value LIFO inventory method on January 1,2016.In applying the LIFO method,Bond uses internal cost indexes and the multiple-pools approach.The following data were available for Inventory Pool No.3 for the two years following the adoption of LIFO: 
Under the dollar-value LIFO method,the inventory at December 31,2017,should be
A)$357,600. 
B)$350,000. 
C)$351,600. 
D)None of these answer choices is correct.

Bond Company Adopted the Dollar-Value LIFO Inventory Method on January