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E 8-27 Dollar-value LIFO CL08-8 Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory
E 8-27 Dollar-value LIFO CL08-8 Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $200,000. Inventory data are as follows: Ending Inventory at Ending Inventory at Year-End Costs Base Year Costs Year 2022 $231,000 $220,000 2023 299,000 260,000 2024 300,000 250,000 Required: Compute the inventory at December 31, 2022 2023 and 2024, using the dollar-value LIFO method
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