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Blossom Company had a January 1 inventory of $290000 when it adopted dollar-value LIFO. During the year, purchases were $1700000 and sales were $2900000. December

image text in transcribed Blossom Company had a January 1 inventory of $290000 when it adopted dollar-value LIFO. During the year, purchases were $1700000 and sales were $2900000. December 31 inventory at year-end prices was $418000, and the price index was 110. What would be reported for Blossom Company's ending inventory? $290000$418000$380000$389000

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