ACC_410A_Inventories_Dollar_Value_LIFO - ACC 410A Handout...

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ACC 410A Handout Inventories (Dollar Value Lifo)ILLUSTRATION 3: DOLLAR-VALUE LIFOIllustrative Problem:The Well-Known Corporation manufactures one product. On December 31, 20B, it adopted dollar-value inventory method. The inventory on that date using dollar-value inventory was $200,000.Inventory data are as follows:Inventory at respective Price IndexYearYear End Prices20B as Base Year20C $231,000 1.0520D 299,000 1.1520E 300,000 1.20Required: Compute the inventory at December 31, 20C, 20D, 20E using the Dollar-ValueLIFO method.SOLUTION:

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