Question: Dollar Value LIFO The information listed in the table below relates to the inventory of T&C Services. Instructions: Use the dollar-value LIFO method to compute

Dollar Value LIFO

The information listed in the table below relates to the inventory of T&C Services.

Instructions:

Use the dollar-value LIFO method to compute the ending inventory for T & C Services for 2021 through 2025.

Ending Inventory Price

Date (End-of-Year Prices) Index

Dec 31, 2021 $40,000 1.00

Dec 31, 2022 $37,800 1.05

Dec 31, 2023 $45,580 1.06

Dec 31, 2024 $51,360 1.07

Dec 31, 2025 $46,200 1.10

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