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What should be the lifo reserve balance at december

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Problem 1: Soft Sands Corp. uses "Dollar-value LIFO" for its inventory. The company's inventory at year-end prices is $753,000 at December 31, 20X1, and $842,000 at December 31, 20X2. If the price index for 20X1 is 100 and for 20X2 is 108, what should be the LIFO Reserve balance at December 31, 20X2?

Reference no: EM132687785

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