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On January 1 , 2 0 2 4 , a company adopted the dollar - value LIFO inventory method. The inventory value for its one
On January a company adopted the dollarvalue LIFO inventory method. The inventory value for its one inventory pool on this date was $ An internally generated cost index is used to convert ending inventory to base year. Yearend inventories at yearend costs and cost indexes for its one inventory pool were as follows:
tabletableYear EndedDecember tableInventory Year Cost Index Relative toEnd CostsBase Year$
Required:
Calculate inventory amounts at the end of each year.
Note: Round intermediate calculations and final answers to the nearest whole dollars.
tableDatetableInventory Layers Converted toBase Year CostInventory Layers Converted to Cost,tableInventory DVLCosttableInventory atYearEndCosttableInventoryLayers at BaseYear CosttableInventoryLayers at BaseYear CosttableInventoryLayersConverted toCostBase,,,Base,,,Base,,,Base,,,Base,,,
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