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On January 1, 2021, the National Furniture Company adopted the dollar-value LIFO method of computing inventory. An internal cost index is used to convert

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On January 1, 2021, the National Furniture Company adopted the dollar-value LIFO method of computing inventory. An internal cost index is used to convert ending inventory to base year. Inventory on January 1 was $200,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended December 31 2021 2022 2023 Inventory at Year-end Costs $259,200 296,800 299,000 Cost Index (Relative to Base Year) 1.08 1.12 1.15 Required: Complete the table to compute inventory amounts at the end of each year using the dollar-value LIFO method. A 1 B Ending Inv. at D E Date Year-end cost 2 Jan 1, 2021 200,000 Ending Inv. at Base Year Cost 200,000/1.00 200,000 Inventory Conversion Layers 200,000 200,000 x 1.00 200,000 3 4 Dec 31, 2021 5 6 7 8 Dec 31, 2022 9 10 11 12 Dec 31, 2023 13 F Ending Inv. at DVL Cost 200,000

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