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View Policies Current Attempt in Progress Flounder Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2019. At that time the inventory had
View Policies Current Attempt in Progress Flounder Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2019. At that time the inventory had a cost of $55,000 and a retail price of $100,000. The following information is available. Year-End Inventory at Retail $119.780 133,200 122,960 177.320 Current Year Cost-Retail % 60% Year End Price Index 106 2019 2020 2021 111 61% 62% 65% 116 2022 124 The price index at January 1, 2019, is 100. Compute the ending inventory at December 31 of the years 2019-2022. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answers to 0 decimal places, e.g. 28,987.) 2019 2020 2021 2022 Ending nventory $ $ $ $ e Textbook and Media Save for Later Attempts: 0 of 5 used Submit
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