Question

Mercury Company has only one inventory pool. On December 31, 2011, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $200,000. Inventory data are as follows:


Required:
Compute the inventory at December 31, 2012, 2013, and 2014, using the dollar-value LIFOmethod.


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  • CreatedJuly 02, 2013
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