Un January 1, 2026, Blue Inc. adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this d is provided for fiscal year ended December 31, 2026: Inventory Valued at Year-End Costs - $806,000 . Cost Index (relative to base year) - 1.04 What is the amount of inventory reported at December 31, 2026 using the Dollar-Value LIFO method? $775,600 $775,000 $806,000 $802.000 OO

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.