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please show ALL work Swifty Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2016. Its inventory at that date was $1010000
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Swifty Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2016. Its inventory at that date was $1010000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Inventory at Current Price Index Date December 31, 2017 December 31, 2018 December 31, 2019 Current Prices $1279720 1466250 1625200 107 125 130 What is the cost of the ending inventory at December 31, 2017 under dollar-value LIFO? $1196000. O $1080700 $1279720 O $1209020Step by Step Solution
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