Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value...
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Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $219,000. Inventory data are as follows: Year 2022 2023 2024 Ending Inventory at Year-End Costs $270,900 364,550 368,400 Ending Inventory at Base Year Costs $258,000 317,000 307,000 Required: Compute the inventory at December 31, 2022, 2023, and 2024, using the dollar-value LIFO method. (Round "Year end cost index" to 2 decimal places.) Required: Compute the inventory at December 31, 2022, 2023, and 2024, using the dollar-value LIFO method. (Round "Year end cost index" to 2 decimal places.) Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory DVL Cost Date Inventory at Year-End Cost Year-End Cost Index Inventory Layers at Base Year Cost Inventory Layers at Base Year Cost Year-End Cost Index Inventory Layers Converted to Cost 12/31/2021 $ 219,000 1 = II Base = $ o 12/31/2022 $ 270,900 = Base 2022 O 12/31/2023 $ 364,550 = = Base 2022 2023 = $ 0 12/31/2024 $ 368,400 = Base 2022 = 2023 2024 0
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