On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory value for its one
Question:
On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $400,000. Inventory data for 2024 through 2026 are as follows:
Required:
Calculate the company’s ending inventory for 2024, 2025, and 2026.
Transcribed Image Text:
Date 12/31/2024 12/31/2025 12/31/2026 Ending Inventory at Year-End Costs $441,000 487,200 510,000 Cost Index 1.05 1.12 1.20
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Date Ending Inventory at Base Year Cost 112024 400000 ...View the full answer
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