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On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows: Year Current Cost Index
On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows:
Year | Current Cost | Index |
2018 | $41,500 | 100 |
2019 | 58,320 | 120 |
2020 | 60,710 | 130 |
2021 | 73,780 | 140 |
Required:
Compute the ending inventory for the years 2018, 2019, 2020, and 2021, using the dollar-value LIFO method.
Year | Ending inventory |
2018 | ___________ |
2019 | ___________ |
2020 | ___________ |
2021 | ___________ |
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