Question: Please show work 4. Hightop Co. has only one inventory pool. On December 31, 2017, Hightop adopted the dollar- value LIFO inventory method. The inventory

Please show work

Please show work 4. Hightop Co. has only one inventory pool. On

4. Hightop Co. has only one inventory pool. On December 31, 2017, Hightop adopted the dollar- value LIFO inventory method. The inventory value on the adoption date was $6,000,000. Inventory data for 2018 through 2020 are as follows: Date Ending inventory at Ending inventory at current costs base year costs 12/31/18 $7,176,000 12/31/19 $7,236,000 12/31/20 $8,395,000 $6,900,000 $6,700,000 $7,300,000 4a. What is Hightop's ending inventory value for 2018, 2019 and 2020 under dollar-value (DV) LIFO? 2018 2019 2020 Ending inventory under DV LIFO 4b. What is the adjusting journal entry at 12/31/2019 that Hightop would record to adjust inventory to DV LIFO? Date Account Debit Credit

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