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PLEASE ANSWER FOR DECEMBER 31,2018. Dollar-Value LIFO Acute Company manufactures a single product. On December 31, 2015, Acute adopted the dollar-value LIFO inventory method. It
PLEASE ANSWER FOR DECEMBER 31,2018.
Dollar-Value LIFO Acute Company manufactures a single product. On December 31, 2015, Acute adopted the dollar-value LIFO inventory method. It computes the inventory on that date using the dollar-value LIFO inventory method as $300,000. Inventory data for succeeding years are as follows: Year Ended Inventory at Respective Relevant Price Index December 31 Year-End Prices 2016 2017 2018 Required Compute the inventory amounts at December 31, 2016, 2017, and 2018 using the dollar-value LIFO inventory method for each year. Do not round your intermediate calculations. If required, round your answers to the nearest dollar December 31, 2016 $ December 31, 2017 $ December 31, 2018 $ $363,000 420,000 430,000 (Base Year 2015) 1.10 1.20 1.25 333,000 357,000 349,500 X FeedbackStep by Step Solution
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