Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following
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Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Oasis? records.
Instructions
Calculate the index used for 2021 that yielded the above results.
Transcribed Image Text:
Price Index 105 ? Ending Inventory at Base Prices Ending Inventory at Dollar-Value LIFO Date December 31, 2020 December 31, 2021 $92,000 $92,600 98,350 97,000
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Related Book For
Intermediate Accounting
ISBN: 978-1119503668
17th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
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