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Please I need an urgent and correct solution to the following accounting question. Thank you Mercury Company has only one inventory pool. On December 31,
Please I need an urgent and correct solution to the following accounting question. Thank you 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 \$205,000. Inventory data are as follows: Required: Compute the inventory at December 31, 2022, 2023, and 2024, using the dollar-value LIFO method. (Round "Year end cost index" to \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Date } & \multicolumn{5}{|c|}{ Inventory Layers Converted to Base Year Cost } & \multicolumn{5}{|c|}{ Inventory Layers Converted to Cost } & \multirow[t]{2}{*}{\begin{tabular}{c} Inventory DVL \\ Cost \end{tabular}} \\ \hline & \begin{tabular}{l} Inventory at \\ Year-End Cost \end{tabular} & & \begin{tabular}{l} Year-End \\ Cost \\ Index \end{tabular} & & \begin{tabular}{l} Inventory \\ Layers at Base \\ Year Cost \end{tabular} & & \begin{tabular}{l} Inventory \\ Layers at Base \\ Year Cost \end{tabular} & \begin{tabular}{l} Year-End \\ Cost \\ Index \end{tabular} & = & \begin{tabular}{c} Inventory \\ Layers \\ Converted to \\ Cost \end{tabular} & \\ \hline 12/31/2021 & & - & & = & & Base & & & = & & \\ \hline \multirow[t]{3}{*}{12/31/2022} & & & & = & & Base & & & = & & \\ \hline & & & & & & 2022 & & & = & & \\ \hline & & & & & & & & & & & \\ \hline \multirow[t]{4}{*}{12/31/2023} & & & & * & & Base & & & = & & \\ \hline & & & & & & 2022 & & & = & & \\ \hline & & & & & & 2023 & & & = & & \\ \hline & & & & & & & & & & & \\ \hline \multirow[t]{4}{*}{12/31/2024} & & & & = & & Base & & & = & & \\ \hline & & & & & & 2022 & & & = & & \\ \hline & & & & & & 2023 & & & = & & \\ \hline & & & & & & 2024 & & & = & & \\ \hline \end{tabular}
Please I need an urgent and correct solution to the following accounting question. Thank you
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