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Compute the ending inventory for each year

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Question - The following information relates to the Choctaw Company.

Date

Ending Inventory (End-of-Year Prices)

Price Index

December 31, 2007

$70,000

100

December 31, 2008

88,200

105

December 31, 2009

70,120

116

December 31, 2010

80,000

120

Required - Compute the ending inventory for each year using the dollar value LIFO method.

Reference no: EM131692129

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