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Sandhill Company manufactures one product. On December 31, 2019, Sandhill adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO
Sandhill Company manufactures one product. On December 31, 2019, Sandhill adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $1,030,000. Inventory data are as follows: Year 2020 2021 2022 Inventory at year-end prices $1,278,900 1,853,800 1,915,000 Price index (base year 2019) 1.05 1.15 1.25 Compute the inventory at December 31, 2020, 2021, and 2022, using the dollar-value LIFO method for each year. Inventory at December 31, 2020 $ Inventory at December 31, 2021 $ Inventory at December 31, 2022 $
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