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Mets Company adopted the dollar-value LIFO inventory method at December 31, 2017 The inventory on that date using the dollar-value LIFO inventory method was $240,000.Inventory
Mets Company adopted the dollar-value LIFO inventory method at December 31, 2017 The inventory on that date using the dollar-value LIFO inventory method was $240,000.Inventory data are as follows:
Inventory atPrice index
Yearyear-end prices(base year 2016)
2017$240,0001.00
2018275,0001.10
2019300,0001.20
Compute the inventory at December 31, 2018, and 2019, using the dollar-value LIFO method for each year.
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