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Question 4 20 pts Guns Up Company manufactures one product. On December 31, 2019, Guns Up adopted the dollar-value LIFO inventory method. The inventory on
Question 4 20 pts Guns Up Company manufactures one product. On December 31, 2019, Guns Up adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $500,000. Inventory data are as follows: Inventory at Price index Year year-end prices (base year 2019) 2020 $656,250 1.05 2021 $690,000 1.15 2022 $812,500 1.25 Instructions Compute the inventory at (1.) December 31, 2019, (2.) December 31, 2020, (3.) December 31, 2021 and (4.) December 31, 2022, using the dollar-value LIFO method for each year
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