Question: On January 1 of Year 1 Dorso Company adopted the

On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventors costing. Dorso’s December 31 ending inventory records are as follows:
Year 1: Current cost, $20,000; Index, 100
Year 2: Current cost, $33,600; Index, 120
Using the dollar value LIFO method, compute Dorso’s December 31 ending inventory for Year 2.

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  • CreatedOctober 05, 2015
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