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1. Dollar-Value LIFO Retail Springsteen Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2009. At that time the inventory had a cost of $54,000 and a retail price of $100,000. The following information is available. The price index at January 1, 2009, is 100. Compute the ending inventory at December 31 of the years 2009-2012. Round to the nearest dollar.
Evaluate this statement: The excess of the actual return on plan assets over the expected return decreases the employer's pension cost.
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