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I did the two answers are C, but I am not sure. act Pattern #1] Minsk Company adopted the dollar-value last-in, first-out (LIFO) method ofinventory
I did the two answers are C, but I am not sure.
act Pattern #1] Minsk Company adopted the dollar-value last-in, first-out (LIFO) method ofinventory valuation at December 31, Year 1. Inventory balances and price indices are shown below. Ending Inventory at End-of-Year Price Index at December 31 Prices December 31 100 $240,000 Year 1 110 275,000 Year 2 120 300,000 Year 3 13 (Refers to Fact Pattern 1) Minsk Company's ending inventory as of December 31, Year 2, computed by the dollar- value LIFO method was A. $275,000 B. $250,000 C. $251,000 D. $240,000Step by Step Solution
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