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Question - Waterway Company adopted the dollar-value LIFO method on January 1, 2017 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.
Inventory At Base-Year At Current-Year
cost Cost
1/1/17 $193,700 $193,700
12/31/17 240,800 288,960
12/31/18 275,300 338,619
Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2018?
Price Index____________________
Dollar-value LIFO inventory$_____________
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