On December 31, 2024, a company adopted the dollar-value LIFO inventory method. Inventory at the...
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On December 31, 2024, a company adopted the dollar-value LIFO inventory method. Inventory at the end of 2024 for its only inventory pool was $400,000 under the dollar-value LIFO method. At the end of 2025 , inventory at year-end cost is $473,000 and the cost index is 1.10. At the end of 2026, inventory at year-end cost is $492,000 and the cost index is 1.20 . Inventory at the end of 2026 at dollar-value LIFO cost is: Multiple Choice $400,000 $412.000. $411,000. $410,000 On December 31, 2024, a company adopted the dollar-value LIFO inventory method. Inventory at the end of 2024 for its only inventory pool was $400,000 under the dollar-value LIFO method. At the end of 2025 , inventory at year-end cost is $473,000 and the cost index is 1.10. At the end of 2026, inventory at year-end cost is $492,000 and the cost index is 1.20 . Inventory at the end of 2026 at dollar-value LIFO cost is: Multiple Choice $400,000 $412.000. $411,000. $410,000
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