Question: Based on the information below, please answer Question 1 8 and Question 1 9 : On January 1 , 2 0 1 8 , Empire,
Based on the information below, please answer Question and Question :
On January Empire, Inc. adopted the dollarvalue LIFO method of computing inventory. An internal cost index is used to convert ending inventory to base year. Inventory on January was $ Yearend inventories at yearend costs and cost indexes for its one inventory pool were as follows:
tableYear Ended December Inventory at Yearend Costs,Cost Index Relative to Base Year$
REQUIRED: Calculate the ending balance for Inventory for the year ended December Show all work and clearly highlight your final answer.
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