On January 1, 2024 , a Company adopted the dollar-value LIFO method for its one inventory pool.

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Question:

On January 1, 2024, a Company adopted the dollar-value LIFO method for its one inventory pool. The pools value on this date was $660,000. The 2024 and 2025 ending inventory valued at year-end costs were $690,000 and $760,000, respectively. The appropriate cost indexes are 1.04 for 2024 and 1.08 for 2025.

Required:

Complete the below table to calculate the inventory value at the end of 2024 and 2025 using the dollar-value LIFO method.

Note: Round "Year end cost index" to 2 decimal places. Round other final answer values to the nearest whole dollars.

Posted Date: May 18, 2024 03:12 PM

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On January 1, 2024 , a Company adopted the dollar-value LIFO method for its one inventory pool.

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