On December 31, 2007, Fern Company adopted the dollar-value LIFO inventory method. All of Ferns inventories constitute
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On December 31, 2007, Fern Company adopted the dollar-value LIFO inventory method.
All of Fern’s inventories constitute a single pool. The inventory on December 31, 2007 using the dollar-value LIFO inventory method was $600,000. Inventory data for 2008 are as follows:
Required:
Under the dollar-value LIFO inventory method, what would Fern’s inventory be at December 31, 20087
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