Question: VIEW BOTH PHOTOS. Problem 8 - 1 5 ( Algo ) Dollar - value LIFO [ LO 8 - 8 ] Required: Calculate inventory amounts
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VIEW BOTH PHOTOS. Problem Algo Dollarvalue LIFO LO Required:
Calculate inventory amounts at the end of each year.
Note: Round intermediate calculations and final answers to the nearest whole dollars.
tableDatetableInventory Layers Converted toBase Year CostInventory Layers Converted to Cost,tableInventory DVLCosttableInventory atYearEndCosttableInventoryLayers at BaseYear CosttableInventoryLayers at BaseYear CosttableInventoryLayersConverted toCostBase,,,$Base,,,$Base,,,$Base,,,$Base,,,$
On January a company adopted the dollarvalue LIFO inventory method. The inventory value for its one inventory pool on this
date was $ An internally generated cost index is used to convert ending inventory to base year. Yearend inventories at year
end costs and cost indexes for its one inventory pool were as follows:
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