Question: Mercury Company has only one inventory pool. On December 31, 2011, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the

Mercury Company has only one inventory pool. On December 31, 2011, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $200,000. Inventory data are as follows:

Required:
Compute the inventory at December 31, 2012, 2013, and 2014, using the dollar-value LIFOmethod.

YearEnding Inventory atEnding Inventory at Year-End Costs Base Year Costs 2012 2013 2014 $231,000 299,000 300,000 S220.000 240,000 250,000

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