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At the beginning of 2021, Quentin and Kopps (Q&K) adopted the dollar-value LIFO (DVL) inventory method. On that date the value of its one inventory
At the beginning of 2021, Quentin and Kopps (Q&K) adopted the dollar-value LIFO (DVL) inventory method. On that date the value of its one inventory pool was $85,000. The company uses an internally generated cost index to convert ending inventory to base year. Required: Determine the missing amounts in the inventory data for 2021 through 2024. (Round cost index to 2 decimal places.) Ending Ending Inventory at Ending Inventory at Year Ended Inventory at December 31 Year-End costs Base-Year Costs DVL cost $ 98,000 2021 2022 2023 2024 $ $ $ Cost Index 1.07 1.161 104,860 148,480 166,000 S 132,800 1.30 $ 143,545
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