Question: Eastshore Corporation sells three main products regularly. The products form one pool for inventor/ purposes, The company used FIFO throughout 2007 for all purposes. After

Eastshore Corporation sells three main products regularly. The products form one pool for inventor/ purposes, The company used FIFO throughout 2007 for all purposes. After 2007, FIFO continued to be used for internal management and accounting purposes; however, at the beginning of 2008, dollar-value LIFO was adopted For income tax and external reporting purposes. The following data (for the three products combined) were taken from the records for the three years following the adoption of LIFO:


FIFO Basis Accounts
2007 
Units 
Cost 
Total 
Ending inventory
2,000
$3.00
$6,000
2008: 



Purchases
7,000
$3.30
$23,100
Sales
6,000


Ending inventory
3,000
S3.30
$ 9,900
2009: 

  
  
Purchases
10,000
$3.60
$36,000
Sales
7,000


Ending inventory
6,000
$3.60
$21,600
2010 



Purchases
5,000
$3.75
$18,750
Sales
7,000


Ending inventory
4,000
$3.75
$15,000


Required: 

Convert the ending inventory at FIFO to a dollar-value LIFO basis for 2008, 2009, and 2010.

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