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Savage Company adopted the dollar-value LIFO method beginning in 2025. In the following years, the ending inventory using FIFO and the price indexes were: 2025

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Savage Company adopted the dollar-value LIFO method beginning in 2025. In the following years, the ending inventory using FIFO and the price indexes were: 2025 2026 2027 2028 Ending inventory $112.000 $135,000 $140.000 $175.000 under FIFO Price index 1.00 1.07 1.16 1.23 What is the inventory balance that Savage would report on its year-end balance sheet for 2027 using the dollar value LIFO method? $ What is the inventory balance that Savage would report on its year-end balance sheet for 2028 using the dollar-value LIFO method? $ What amount would Savage disclose in its footnotes as LIFO Reserve at December 31, 2028? $

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