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Bond Company adopted the dollar-value LIFO inventory method on January 1, 2021. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools

Bond Company adopted the dollar-value LIFO inventory method on January 1, 2021. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:

Ending Inventory
Year At Year-End At Base Year Cost Cost Index
1/1/2021 $ 308,000 $ 308,000 1.00
12/31/2021 352,620 326,500 1.08
12/31/2022 431,730 351,000 1.23

Under the dollar-value LIFO method, the inventory at December 31, 2022, should be

Multiple Choice

  • $358,115.

  • $351,000.

  • $352,480.

  • image text in transcribed

Bond Company adopted the dollar-value LIFO Inventory method on January 1, 2021. In applying the LIFO method. Bond uses Internal cost Indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO: Ending Inventory At Year- At Base Cost Year End Year Cost Index 1/1/2021 $308,000 $308,000 1.ee 12/31/2021 352,620 326,500 1.88 12/31/2022 431,730 351,080 1.23 Under the dollar-value LIFO method, the inventory at December 31, 2022 should be Multiple Choice $359,115. O $351.000. $352,490

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