Part A. Marshall Fields Company has a beginning inventory in year one of $1,400,000 and an...

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Part A. Marshall Fields Company has a beginning inventory in year one of $1,400,000 and an ending inventory of $1,694,000. The price level has increased from 100 at the beginning of the year to 110 at the end of year one. Calculate the ending inventory under the dollar-value LIFO method. Part B. At the end of year two, Fields' inventory is $1,886,000 in terms of a price level of 115 which exists at the end of year two. Calculate the inventory at the end of year two continuing the use of the dollar-value LIFO method. Part A. Marshall Fields Company has a beginning inventory in year one of $1,400,000 and an ending inventory of $1,694,000. The price level has increased from 100 at the beginning of the year to 110 at the end of year one. Calculate the ending inventory under the dollar-value LIFO method. Part B. At the end of year two, Fields' inventory is $1,886,000 in terms of a price level of 115 which exists at the end of year two. Calculate the inventory at the end of year two continuing the use of the dollar-value LIFO method.

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Part A To calculate the ending inventory under the dollarvalue LIFO method well need to use the pric... View the full answer