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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 $91,000. 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 Inventory at Ending Inventory at Year Ended Inventory at December 31 Year-End costs Base-Year Costs Cost Index DVL cost $ 106,000 1.06 2021 2022 S 112,360 $ 150,650 165,770 $ 1.15 2 137,000 2023 2024 1.26 $ 147,068
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