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Greer Company adopted dollar value LIFO on December 31, 2014. The inventory value at that...

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Accounting

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Greer Company adopted dollar value LIFO on December 31, 2014. The inventory value at that time was $120,000. For the next 4 years, calculate the cost of inventory using the dollar value LIFO method. Year Ended Year End Inventory at Price Dollar Value LIFO Current Value Index 12/31/2014 $120,000 100 $120,000 12/31/2015 $132,300 105 12/31/2016 $127,440 108 12/31/2017 $135,300 110 12/31/2018 $142,240 112

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