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Kingbird Company cans a variety of vegetable-type soups. Recently, the company decided to value its inventories using dollar-value LIFO pools. The clerk who accounts for

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Kingbird Company cans a variety of vegetable-type soups. Recently, the company decided to value its inventories using dollar-value LIFO pools. The clerk who accounts for inventories does not understand how to value the inventory pools using this new method, so, as a private consultant, you have been asked to teach him how this new method works. He has provided you with the following information about purchases made over a 6-year period. TT Ending Inventory (End-of-Year Prices) Date Price Index Dec. 31,2016 $84,100 100 140,970 Dec. 31, 2017 127 Dec. 31, 2018 140,070 145 Dec. 31, 2019 165,478 157 Dec. 31, 2020 187,759 169 Dec. 31, 2021 221,900 175 You have already explained to him how this inventory method is maintained, but he would feel better about it if you were to leave him detailed instructions explaining how these calculations are done and why he needs to put all inventories at a base-year value. Compute the ending inventory for Kingbird Company for 2016 through 2021 using dollar-value LIFO. Ending Inventory $ 2016 $ 2017 2018 $ $ 2019 $ 2020 2021 $

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