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Compute the ending inventory using dollar-value lifo method

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Problem - AICPA Adapted - Dollar-Value LIFO - Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $200,000. Inventory data for succeeding years are as follows:

Year

Inventory at Respective Year-End Prices

Price Index (Base Year 2018)

2019

$231,000

1.05

2020

299,000

1.15

2021

300,000

1.20

Required - Compute the ending inventory using the dollar-value LIFO method for 2019, 2020, and 2021.

Reference no: EM132882790

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