Mercury Company has only one inventory pool. On December 31,
2018, Mercury adopted the dollar-value LIFO inventory method. The
inventory on that date using the dollar-value LIFO method was
$214,000. Inventory data are as follows:
Year |
Ending Inventory at Year-End Costs |
Ending Inventory at Base Year Costs |
||||
2019 | $ | 260,400 | $ | 248,000 | ||
2020 | 347,300 | 302,000 | ||||
2021 | 350,400 | 292,000 | ||||
Required:
Compute the inventory at December 31, 2019, 2020, and 2021, using
the dollar-value LIFO method. (Round "Year end cost index"
to 2 decimal places.)
Get Answers For Free
Most questions answered within 1 hours.