Mercury Company Has Only One Inventory Pool On December 31 2021 Mercury Adopted The Dollar Value Lifo Inventory Metho 1 (82.81 KiB) Viewed 23 times
Mercury Company Has Only One Inventory Pool On December 31 2021 Mercury Adopted The Dollar Value Lifo Inventory Metho 2 (80.45 KiB) Viewed 23 times
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 $200,000. Inventory data are as follows: Year 2022 2023 2024 Ending Inventory at Year-End Costs $231,000 299,000 300,000 Ending Inventory at Base Year Costs $220,000 260,000 250,000
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.) Date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 Inventory Layers Converted to Base Year Cost Inventory Layers at Base Year Cost Inventory at Year- End Cost Year-End Cost Index = = = = Base Base 2022 Base 2022 2023 Base 2022 2023 2024 Inventory Layers Converted to Cost Inventory Layers at Base Year Cost Year-End Cost Index = = = = = = = = Inventory Layers Converted to Cost Inventory DVL Cost $ $ $ $ 0 0 0 0
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