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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
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 $220,000. Inventory data are as follows: Year 2019 2020 2021 Ending Inventory at Year-End Costs $273,000 368,000 372,000 Ending Inventory at Base Year Costs $260,000 320,000 310,000 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.) Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Ending Inventory DVL Cost Date Inventory at Year- End Cost Year-End Cost Index Inventory Layers at Base Year Cost Inventory Layers at Base Year Cost Year-End Cost Index Inventory Layers Converted to Cost 12/31/2018 12/31/2019 = 12/31/2020 Base Base 2019 Base 2019 2020 Base 2019 2020 SO 12/31/2021 S 0
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