Question: Problem 8 - 1 4 ( Algo ) Dollar - value LIFO [ LO 8 - 8 ] A company uses the dollar - value

 Problem 8-14(Algo) Dollar-value LIFO [LO8-8] A company uses the dollar-value LIFO

Problem 8-14(Algo) Dollar-value LIFO [LO8-8]
A company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1,2024, with an inventory of $265,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:
\table[[\table[[Year Ended],[December 31]],\table[[Ending Inventory at],[Year-End Costs]],\table[[Cost Index (Relative to],[Base Year)]]],[2024,$336,600,1.02],[2025,427,350,1.11],[2026,405,000,1.08],[2027,395,200,1.04]]
Required:
Calculate inventory amounts at the end of each year.
Note: Round intermediate calculations and final answers to the nearest whole dollars.
\table[[Date,\table[[Inventory Layers Converted],[to Base Year Cost]],Inventory Layers Converted to Cost,\table[[Inventory DVL],[Cost]]],[\table[[Inventory at],[Year-End],[Cost]],\table[[Inventory],[Layers at],[Base Year],[Cost]],,\table[[Inventory],[Layers at Base],[Year Cost]],\table[[Inventory],[Layers],[Converted to],[Cost]]],[01/01/2024,,,Base,,,],[12/31/2024,,,Base,,,],[,,2024,,,],[12/31/2025,,,Base,,,],[,,2024,,,],[,,2025,,,],[12/31/2026,,,Base,,,],[,,2024,,,],[,,2025,,,],[,,2026,,,],[12/31/2027,,,Base,,,],[,,2024,,,],[,,2025,,,],[,,2026,,,],[,,2027,,,]]
method of computing inventory. An external price index is used to convert

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