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Santorini Company has only one inventory pool. On December 31, Year 1 Santorini adopted the dollar-value LIFO inventory method. The inventory on that date using
Santorini Company has only one inventory pool. On December 31, Year 1 Santorini adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $300,000. Inventory data are as follows: Year Ending Inventory at Year-End Costs Ending Inventory at Base Year Costs Year 2 $ 378,000 $ 360,000 Year 3 538,200 468,000 Year 4 518,400 432,000 Required: Compute the inventory at December 31 of each year, using the dollar-value LIFO method. Navigation
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