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At the beginning of 2024, a company adopts the dollar-value LIFO inventory method for its one inventory pool. The pool's value on that date
At the beginning of 2024, a company adopts the dollar-value LIFO inventory method for its one inventory pool. The pool's value on that date was $1,150,000. The 2024 ending inventory valued at year-end costs was $1,414,000 and the year-end cost index was 1.01. Calculate the inventory value at the end of 2024 using the dollar-value LIFO method. Inventory Layers converted to Base Year Cost Inventory Layers converted to Cost Date Inventory at year-end cost Year-end i cost index Inventory Layers at Base Year Cost Inventory Layers at Base Year Cost Year-end Inventory Layers Inventory DVL Cost cost index Converted to Cost 01/01/2024 Base $ 0 12/31/2024 Base 2024 S
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