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The dollar-value LIFO method was adopted by Swifty Corp. on January 1, 2020. Its inventory on that date was $178,500. On December 31, 2020, the
The dollar-value LIFO method was adopted by Swifty Corp. on January 1, 2020. Its inventory on that date was $178,500. On December 31, 2020, the inventory at prices existing on that date amounted to $156,800. The price level at January 1, 2020, was 100, and the price level at December 31, 2020, was 112. X Your answer is incorrect. Compute the amount of the inventory at December 31, 2020, under the dollar-value LIFO method. Inventory 12/31/20 under dollar-value LIFO method $ 125000 e Textbook and Media Assistance Used X Your answer is incorrect. On December 31, 2021, the inventory at prices existing on that date was $188,945, and the price level was 115. Compute the inventory on that date under the dollar-value LIFO method. Inventory 12/31/21 under dollar-value LIFO method $
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