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On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $310,000.
On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $310,000. Inventory data for 2024 through 2026 are as follows: Date 12/31/2024 12/31/2025 12/31/2026 Required: Ending Inventory at Year-End Costs $ 339,900 382,950 398,650 Cost Index- 1.03 1.11 1.19 Calculate the company's ending inventory for 2024, 2025, and 2026. Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory DVL Cost Date Inventory at Year-End Cast Year-End Cost Index 01/01/2024 INNO 12/31/2024 Inventory Layers at Base Year Inventory Layers at Base Year-End Inventory Cost Year Cost Index Cost Layers Converted to Cost Base $ Base 2024 $ 0 12/31/2025 W Base 2024 2025 $ 12/31/2026 Base 2024 2025 2026
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