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Help I keep getting the Price Index wrong (d) Your answer is partially correct. Try again. Crane Company has used the dollar-value LIFO method since
Help I keep getting the Price Index wrong
(d) Your answer is partially correct. Try again. Crane Company has used the dollar-value LIFO method since January 1, 2017. Crane uses internal price indexes and multiple pools. At the end of calendar year 2018, the following data are available for Crane's inventory pool A. Inventory January 1, 2017 December 31, 2017 December 31, 2018 At Base-Year Cost $1,000,000 1,270,000 1,320,000 At Current-Year Cost $1,000,000 1,397,000 1,504,800 Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory in Pool A be reported at December 31, 2018? December 31, 2018 Price Index 1.025 Dollar-value LIFO inventory 1,354,000 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXTStep by Step Solution
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