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On January 1, 2013, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $370,000.
| On January 1, 2013, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $370,000. Inventory data for 2013 through 2015 are as follows: |
| Date | Ending Inventory at Year-End Costs | Cost Index | ||||
| 12/31/13 | $ | 417,300 | 1.07 | |||
| 12/31/14 | 469,800 | 1.16 | ||||
| 12/31/15 | 493,750 | 1.25 | ||||
| Required: |
| Calculate Taylor |
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