Question

Mercury Company has only one inventory pool. On December 31, 2018, Mercury adopted the dollar-value LIFO...

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.)

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