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On January 1, 2016, the Taylor company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $350,000.
On January 1, 2016, the Taylor company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $350,000. Inventory data through 2018 are as follows:
Date: 12/31/16
Ending Inventory at Year-End Costs: $384,800
Cost Index: 1.04
Date:12/31/17
Ending Inventory at Year-End Costs $442,750
Cost index" 1.15
Date: 12/31/18
Ending Inventory at Year-End Costs: $461,250
Cost Index: 1.23
Calculate Taylor's ending inventory for 2016, 2017, and 2018
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