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Aber Company manufactures one product. On December 31, 2019, Aber adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO
- Aber Company manufactures one product. On December 31, 2019, Aber adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $270,000. Inventory data are as follows:
Inventory at Price index
Year year-end prices (base year 2019)
2020 $378,000 1.05
2021 552,000 1.15
2022 575,000 1.25
Compute the inventory at December 31, 2020, 2021, and 2022, using the dollar-value LIFO method for each year.
2020 $__________ 2021 $__________ 2022 $__________
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