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On January 1, 2021, the Hoover Company adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was $780,000.
On January 1, 2021, the Hoover Company adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was $780,000. The 2021 and 2022 ending inventory valued at year-end costs were $819,000 and $901,000, respectively. The appropriate cost indexes are 1.04 for 2021 and 1.06 for 2022. The inventory value at the end of 2022 using the dollar-value LIFO method would be: 0 $787,800. O $854,050. 0 $812,650. O $891,250
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