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P8.11B (LO 4) (Dollar-Value LIFO) Landon Company bottles a variety of soft drinks. Recently, the company decided to value its inventories using dollar-value LIFO pools.
P8.11B (LO 4) (Dollar-Value LIFO) Landon Company bottles a variety of soft drinks. Recently, the company decided to value its inventories using dollar-value LIFO pools. The clerk who accounts for inventories does not understand how to value the inventory pools using this new method, so, as a private consultant, you have been asked to teach him how this new method works. He has provided you with the following information about purchases made over a 6-year period. You have already explained to him how this inventory method is maintained, but he would feel better about it if you were to leave him detailed instructions explaining how these calculations are done and why he needs to put all inventories at a base-year value. Instructions (a) Compute the ending inventory for Landon Company for 2016 through 2021 using dollar-value LIFO
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