Question: Exercise 8 - 2 7 ( Algo ) Dollar - value LIFO [ LO 8 - 8 ] Mercury Company has only one inventory pool.
Exercise Algo Dollarvalue LIFO LO
Mercury Company has only one inventory pool. On December Mercury adopted the dollarvalue LIFO inventory method. The inventory on that date using the dollarvalue LIFO method was $ Inventory data are as follows:
Year: Ending Inventory at YearEnd Costs Ending Inventory at Base Year Costs
: $ $
:
:
Required:
Compute the inventory at December and using the dollarvalue LIFO method.
Note: Round "Year end cost index" to decimal places.
Please answer in the table form, as indicated by picture attached.
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