Question: At the beginning of 2011 a company adopts the dollar value
At the beginning of 2011, a company adopts the dollar-value LIFO inventory method for its one inventory pool. The pool's value on that date was $1,400,000. The 2011 ending inventory valued at year-end costs was $1,664,000 and the year-end cost index was 1.04. Calculate the inventory value at the end of 2011 using the dollar-value LIFO method.
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