Mercury Company has only one inventory pool. On December 31, 2018, Mercury adopted the dollar-value LIFO inventory
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Question:
Mercury Company has only one inventory pool. On December 31, 2018, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $206,000. Inventory data are as follows:
Year Ending Inventory at
Year-End Costs Ending Inventory at Base Year Costs
2019 $243,600 $232,000
2020 319,700 278,000
2021 321,600 268,000
Required:
Compute the inventory at December 31, 2019, 2020, and 2021, using the dollar-value LIFO method.(Round "Year end cost index" to 2 decimal places.)
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