Question: Superior Camera Shop began using the dollar-value LIFO method in 2006 when its ending inventory was coasted at $50,000. The 2007 ending inventory at year-end

Superior Camera Shop began using the dollar-value LIFO method in 2006 when its ending inventory was coasted at $50,000. The 2007 ending inventory at year-end prices was $54,000. Calculate Superior Camera Shop s increase or decrease of inventory in real terms assuming 106 percent is an appropriate price index.

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