On January 1, 2014, ABC Company’s first day of operations, the company purchased $250,000 of finished goods inventory. The company decided to employ the dollar-value LIFO method for reporting its inventory. The following table includes inventory information from 2014-2017:DateInventory at current costCost index12/31/145,0001.0512/31/15$378,0001.0812/31/16$352,0001.1012/31/17$421,2001.17A. Determine the appropriate inventory valuation at 12/31/14.
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