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please finish the problem. you just need to do the 2024 inputs Exercise 8-27 (Algo) Dollar-value LIFO (LO8-8] Mercury Company has only one inventory pool.

please finish the problem. you just need to do the 2024 inputs image text in transcribed
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Exercise 8-27 (Algo) Dollar-value LIFO (LO8-8] Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $220,000. Inventory data are as follows: Year 2022 2023 2024 Ending Inventory at Year-End Costa $273.000 368,000 372,000 Ending Inventory at Base Year Coats $260,000 320,000 310,000 Required: Compute the inventory at December 31, 2022 2023, and 2024, using the dollar-value LIFO method. (Round "Year end cost index" to 2 decimal places.) Answer is complete but not entirely correct. Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory DVL Cost Date Inventory at Year-End Cost Cost Index Inventory Layers at Base Year Cost 220,000 $ 260,000 End Cost Index - $ 12/31/2021 12/31/2022 220,000 $ S 220,000 273,000 1 1 - - Inventory Layers at Base Year Cost $ 220,000 $ 220,000 $ 40.000 $ 220,000 $ 40.000 Inventory Layers Converted to Cost $ 220,000 $ 220,000 $ 42,000 $ 220,000 1 1 Base Base 2022 B ase 2022 .05 1.05 = $ 262,000 12/31/2023 $ 368,000 1.15 = $ 320,000 1.05 Return to question Required: Compute the inventory at December 31, 2022, 2023, and 2024, using the dollar-value LIFO method. (Round "Year end cost index" to 2 decimal places.) Answer is complete but not entirely correct. Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory DVL Cost End Date Year- End Cost Inventory at Year-End Cost Inventory Layers at Base Year Cost Year- End Cost $ 220,000 12/31/2021 12/31/2022 $ S 220,000 273,000 1 - - - 1.05 $ $ 262,000 Inventory Layers at Base Year Cost 220,000 $ 220,000 $ 40,000 220,000 40,000 60,000 220,000 40,000 50,000 Inventory Layers Converted to Cost 220,000 220,000 42,000 220,000 42,000 69,000 220,000 42,000 57,500 12/31/2023 $ 368,000 + 1.15 220,000Base 260,000 Base 2022 320,000 B ase 2022 2023 310,000 Base - $ 1.05 1.15 $ 331,000 12/31/2024 372,000 1.20 - $ OOOOOO 1.05 1.15 $ 319.500

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