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Calculate the inventory value at the end of 2021 and 2022 using the dollar-value LIFO method just need to figure the inventory value On January
Calculate the inventory value at the end of 2021 and 2022 using the dollar-value LIFO method
just need to figure the inventory value
On January 1, 2021, the Haskins Company adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was $660,000. The 2021 and 2022 ending inventory valued at year-end costs were $690,000 and $760,000, respectively. The appropriate cost indexes are 1.04 for 2021 and 1.08 for 2022 Step by Step Solution
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