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Question 10 (4 points) Bond Company adopted the dollar-value LIFO inventory method on January 1, 2009. In applying the LIFO method, Bond uses internal cost

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Question 10 (4 points) Bond Company adopted the dollar-value LIFO inventory method on January 1, 2009. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO: Ending Inventory At Current Year Cost Cost Index 1/1/09 $300,000 1.00 12/31/09 333,320 1.04 12/31/10 442,680 1.24 Under the dollar-value LIFO method the inventory at December 31, 2010, should be a) $366,580 b) $357,000. Oc) $357,820 d) $400,000

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