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Kwestel Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015. The following information about the inventory at the end of
Kwestel Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015. The following information about the inventory at the end of each year is available from the company records:
Year | Current Costs | Index |
---|---|---|
2014 | $8,000 | 100 |
2015 | 10,800 | 120 |
2016 | 11,500 | 130 |
2017 | 14,000 | 145 |
2018 | 10,500 | 125 |
Required:
Calculate the dollar-value LIFO inventory at the end of each year. Do not round your intermediate calculations. If required, round your final answers to the nearest dollar.
2015 | 2016 | 2017 | 2018 | |
---|---|---|---|---|
Ending Inventory at LIFO | $ | $ | $ | $ |
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