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Vaughn Manufacturing began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years in end-of-year dollars was
Vaughn Manufacturing began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years in end-of-year dollars was $287000 and $448000 and the year-end price indices were 1.0 and 1.2, respectively. Assuming the current inventory at end of year prices equals $644000 and the index for the current year is 1.25, what is the ending inventory using dollar- value LIFO? (Round intermediate calculations and final answer to O decimal places, e.g. 10,000.) $534184. O $567934. $571684. $560884
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