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QUESTION 10 Your corporation uses the dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended

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QUESTION 10 Your corporation uses the dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended Inventory at Price December 31. End-of-year Prices Index 2017 $650 100% 2018 1,200 106% 2019 1,350 111% Round all amounts to dollars (no cents) What is the 2018 inventory balance using dollar-value LIFO? What is the 2019 inventory balance using dollar-value LIFO

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