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Exercise 8-26 (Algo) Dollar-value LIFO [LO8-8] On January 1, 2021, the Haskins Company adopted the dollar-value LIFO method for its one inventory pool. The pool's
Exercise 8-26 (Algo) Dollar-value LIFO [LO8-8] 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 $820,000. The 2021 and 2022 ending inventory valued at year-end costs were $858,000 and $945,000, respectively. The appropriate cost indexes are 1.04 for 2021 and 1.08 for 2022. Required: Complete the below table to calculate the inventory value at the end of 2021 and 2022 using the dollar-value LIFO method. (Round "Year end cost index" to 2 decimal places. Round other final answer values to the nearest whole dollars.) Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Date Inventory at Year-End Cost Year-End Cost Index Inventory Layers at Base Year Inventory Layers at Base Year-End Cost Index Inventory Layers Converted to Cost Year Cost Cost 01/01/2021 12/31/2021 = Base = Base = 2021 = 12/31/2022 = Base 2021 = 2022 = Inventory DVL Cost
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