On December 31, 2016, Fern Company adopted the dollar-value LIFO inventory method. All of Fern's inventories constitute
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December 31, 2017, inventory at year-end prices....................................$780,000
Relevant price index at year-end (base year 2016) ........................................1.20
Required:
Under the dollar-value LIFO inventory method, what would Fern's inventory be at December 31, 2017?
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Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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