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Please help me solve! Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory on
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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 $211,000. Inventory data are as follows: at Ending Inventory Ending Inventory at Year Year-End Costs Base Year Costs 2022 $254,100 $242,000 2023 336,950 293,000 2024 339,600 283,000 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.) Inventory DVL Cost Date 12/31/2021 12/31/2022 Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Year Inventory Inventory Year- Inventory Inventory End Layers at Layers at End Layers at Year- Cost Base Year Base Year Cost Converted End Cost Index Cost Cost Index to Cost Base Base 2022 Base 2022 2023 Base 2022 2023 2024 12/31/2023 $ 0 12/31/2024 $ 0Step by Step Solution
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