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Have asked this same question on here 3x. I will not mark the answer unless it is correct. Please put the correct answer w/ corrections.
Have asked this same question on here 3x. I will not mark the answer unless it is correct. Please put the correct answer w/ corrections.
Mercury Company has only one inventory pool. On December 31, 2018, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $214,000. Inventory data are as follows Ending Inventory at Year-End Costs Year 2019 2020 2021 Ending Inventory at Base Year Costs $ 248 , 088 392 , 00 292,000 $260,40 347, 300 35e,400 Required: Compute the inventory at December 31, 2019, 2020, and 2021, using the dollar-value LIFO method. (Round "Year end cost index" to 2 decimal places.) Answer is not complete. Ending Inventory DVL Cost Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory at Year- End Cost Year- End Cost Index Inventory Layers at Base Year Cost Inventory Layers at Base Year Cost Year- End Cost Index Inventory Layers Converted to Cost Date 12/31/20 18 |$ 214,000 1.00|= |$ 214,000! Base 214,000Base 2019 12/31/2020 347,3005 35,700Base 2019 2020 Base 2019 2020 - $ 214,000$214,000 1.00 1.00 1.05 1.00 12/31/2019 260.4001.05 0 214,000 35,700 x > | 1.05 > |= |$ 1.15 $ 249,700 350,400 x | 0|- |$ 214,000 12/31/2021 1.20 1.00 1.0535,700 1.15 - $ 52,800 $302,500
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