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please explain how you filled out the chart. Thank you in advance! Arna, Inc. uses the dollar-value LIFO method of computing its inventory. Data for
please explain how you filled out the chart. Thank you in advance!
Arna, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Inventory at Year-End Prices Price Index 2012 $19,750 100 2013 $21,870 108 2014 $25,935 114 Instructions: Compute the value of the 2013 and 2014 inventories using dollar- value LIFO. XUDO Inventory at year- Price Year Inventory at base-year prices end index prices Base Layers 2012 $19,750 1.00 $19.750 $19.750 [ Select] 2012 $21,870 1.08 2013 [ Select] [Select] [ Select] |2012 2013 $25,935 1.14 [ Select ] [ Select ] 2014 [ Select Base Layers Price $ Value LIFO index $ $19.750 1.00 $19.750 $1 Select] [ Select] > 1.00 1.08 [ Select ] [ Select ] > [Select) [ Select] > 1.00 [ Select 1.08 [ Select] 1.14 [ Select ] [Select] Value LIFO $ Value LIFO Total LIFO Reserve Total (column 2 - column 8 .9.750 $19,750 $0 Select] [ Select] [ Select ] Select] > Select ] Select ]Step by Step Solution
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