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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 $79,000. 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 Inventory at DVL cost Cost Index Year Ended December 31 2021 2022 2023 2024 Ending Inventory at Year-End costs $ 99,510 $ 136,880 $ 152.250 Base-Year Costs $ 93,000 1.07 1.16 $ 121.800 1.30 $ 131,240
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