Question: On January 1 2013 Avondale Lumber adopted the dollar value LIFO

On January 1, 2013, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $260,000. An internally generated cost index is used to convert ending inventory to base year. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:


Required:
Calculate inventory amounts at the end of eachyear.
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  • CreatedDecember 23, 2013
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