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Kingston Company uses the dollar-value LIFO method of computing Inventory. An external price index is used to convert ending Inventory to base year. The company
Kingston Company uses the dollar-value LIFO method of computing Inventory. An external price index is used to convert ending Inventory to base year. The company began operations on January 1, 2018, with an Inventory of $219,000. Year-end Inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended December 31 2018 2019 2020 2021 Ending Inventory Cost Index at Year-End Costs (Relative to Base Year) $333,500 426,250 403,820 395,300 1.15 1.25 1.22 Requlred: Calculate Inventory amounts at the end of each year. (Round Intermedlate calculatlons and final answers to the nearest whole dollars.) Ending Inventory DVL Cost Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory Layers at Base Year Cost Inventory Layers Inventory at Year End Cost Year-End Cost Index Inventory Layers at Base Year Cost Year-End Cost Converted to Index Date Cost 01/01/2018 Base Base 2018 Base 2018 2019 Base 2018 2019 Base 2018 2019 2021 12/31/2018 12/31/2019 12/31/2020 12/31/2021
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