Question: DVL Inventory Estimation Example Artex Oil Co. uses the Dollar Value LIFO Estimation technique to value it's oil inventory and has done so for the

DVL Inventory Estimation Example Artex Oil Co. uses the Dollar Value LIFO Estimation technique to value it's oil inventory and has done so for the past eight years. The 2021 ending inventory cost was $525,000 (thus the 2022 beginning inventory was the same amount). The 2022 ending inventory value at 2022 year-end cost of oil is $650,000. Artex calculates the 2022 cost index at 1.15 as the price of oil increased during the year. What is the value of Artex's ending oil inventory

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