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On January 1, 2021, the Haskins Company adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was
On January 1, 2021, the Haskins Company adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was $790,000. The 2021 and 2022 ending inventory valued at year-end costs were $832,000 and $918,000, respectively. The appropriate cost indexes are 1.04 for 2021 and 1.08 for 2022. Required: Complete the below table to calculate the inventory value at the end of 2021 and 2022 using the dollar-value LIFO method. (Round "Year end cost index" to 2 decimal places. Round other final answer values to the nearest whole dollars.) Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory DVL Cost Date Inventory at Year-End Year-End Cost Cost Index 01/01/2021 12/31/2021 12/31/2022 = = Inventory Inventory Layers at Base Year Inventory Layers at Base Year-End Cost Index Layers Converted to Year Cost Cost Cost Base Base = 2021 = Base 2021 2022 =
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