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Please help! Pina Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available
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Pina Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. Inventory 1/1/20 12/31/20 12/31/21 At Base-Year Cost $180,300 235,800 276,200 At Current-Year Cost $180,300 259,380 309,344 Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2021? December 31, 2021 Price Index Dollar-value LIFO inventoryStep by Step Solution
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