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Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the
Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $220,000. Inventory data are as follows:
Year | Ending Inventory at Year-End Costs | Ending Inventory at Base Year Costs | ||||
2022 | $ | 273,000 | $ | 260,000 | ||
2023 | 368,000 | 320,000 | ||||
2024 | 372,000 | 310,000 | ||||
Required: Compute the inventory at December 31, 2022, 2023, and 2024, using the dollar-value LIFO method
Ch 8 - Part B Homework Saved LALANG 1 Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $220,000. Inventory data are as follows: Ending Inventory at Year-End Costs $273,000 368,000 372,000 Year 2022 2023 2024 Ending Inventory at Base Year Costs $260,000 320,000 310,000 3.5 points Required: Compute the inventory at December 31, 2022 2023, and 2024, using the dollar-value LIFO method. (Round "Year end cost index" to 2 decimal places.) eBook Print Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory DVL Cost Inventory References Date Inventory at Year-End Cost Year-End Cost Index Inventory Layers at Base Year Cost Layers at Base Year Cost Year-End Cost Index Inventory Layers Converted to Cost = Base = 12/31/2021 12/31/2022 = = Base 2022 = 12/31/2023 Base 2022 2023 = 12/31/2024 Base 2022 2023 2024
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