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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

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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 $202,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended Inventory at Cost Index December 31 Year-end (Relative to Costs Base Year ) 2021 $263 , 520 1 . 08 2022 303, 520 1 . 12 2023 305, 900 1 . 15 Required: Compute inventory amounts at the end of each year using the dollar-value LIFO method. Ending Date Inventory DVL Cost 12/31/2021 12/31/2022 12/31/2023

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