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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

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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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