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Sunland Company has used the dollar-value LIFO method since January 1, 2017. Sunland uses internal price indexes and multiple pools. At the end of calendar
Sunland Company has used the dollar-value LIFO method since January 1, 2017. Sunland uses internal price indexes and multiple pools. At the end of calendar year 2018, the following data are available for Sunland's inventory pool A. At Current-Year Cost Inventory At Base-Year Cost January 1, 2017 $1,000,000 $1,000,000 December 31, 2017 1,220,000 1,342,000 December 31, 2018 1,270,000 1,473,200 Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory in Pool A be reported at December 31, 2018? Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory in Pool A be reported at December 31, 2018? December 31, 2018 Price Index Dollar-value LIFO inventory $ 1300000
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