Question: Multiple Choice Question 130 Coronado Industries began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years

Multiple Choice Question 130

Coronado Industries began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years in end-of-year dollars was $296000 and $390600 and the year-end price indices were 1 and 1.20, respectively. Assuming the current inventory at end of year prices equals $611000 and the index for the current year is 1.25, what is the ending inventory using dollar-value LIFO?

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