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Problem 8 - 1 4 ( Algo ) Dollar - value LIFO [ LO 8 - 8 ] A company uses the dollar - value
Problem Algo Dollarvalue LIFO LO
A company uses the dollarvalue LIFO method of computing inventory. An external price index is used to convert ending inventory to
base year. The company began operations on January with an inventory of $ Yearend inventories at yearend costs
and cost indexes for its one inventory pool were as follows:
Required:
Calculate inventory amounts at the end of each year.
Note: Round intermediate calculations and final answers to the nearest whole dollars.
Answer is complete but not entirely correct.
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