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On January 1 , 2 0 2 3 , Ferret, Inc., adopted the dollar - value LIFO method. The inventory cost on this date was
On January Ferret, Inc., adopted the dollarvalue LIFO method. The inventory cost on this date was $ The ending inventory, valued at yearend costs, was $ The relative cost index for this inventory in was Suppose that Ferret's ending inventory, valued at yearend costs, was $ and that the relative cost index for this inventory in was Also suppose that Ferret's ending inventory, valued at yearend costs, was $ and that the relative cost index for this inventory in was What inventory balance would Ferret report on its balance sheet?
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