SJV Inc. reported on its balance sheet at December 31, 2018…
SJV Inc. reported on its balance sheet at December 31, 2018 ending inventory of $670,000. SJV uses LIFO. In its notes to financial statements, the company reported the following: 2018 2019 Inventory reported on the balance sheet 670,000 800,000 Value of inventory on FIFO basis 702,000 840,000 During the year 2019, what is your inference on the direction of input prices for SJV Inc. (choose among the 3 (I, D, or N): I=increased, D=decreased, and N=unchanged). Direction of input prices