Solution-Calculate inventory amounts at the end of each year

Calculate inventory amounts at the end of each year

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Question - On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $300,000. An internally generated cost index is used to convert ending inventory to base year. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:

Year Ended December 31	Inventory Year-End Costs	Cost Index (Relative to Base Year)
2021	$392,080	1.04
2022	403,920	1.08
2023	458,890	1.09
2024	492,240	1.12

Required: Calculate inventory amounts at the end of each year.

Reference no: EM132427697

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Calculate inventory amounts at the end of each year : On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. Calculate inventory amounts at the end of each year

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Calculate inventory amounts at the end of each year

Reference no: EM132427697

Reference no: EM132427697

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