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On January 1, 2024, a Company adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was $850,000.
On January 1, 2024, a Company adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was $850,000. The 2024 and 2025 ending inventory valued at year-end costs were $897,000 and $972,000, respectively. The appropriate cost indexes are 104 for 2024 and 108 for 2025 Required: Complete the below table to calculate the inventory value at the end of 2024 and 2025 using the dollar-value LIFO method. Note: 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 Inventory at Date: Year-End Cost 01/01/2024 12/31/2024 12/31/2025 Inventory Inventory Year-End Cost Index Layers at Base Year Inventory Layers at Base Year Cost Year-End Cost Index Cost Layers Converted to Cost Base = Base 2024 Base 20241 2025
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