dollar_value_LIFO - Cost index Dec. 31, 2010 $556,500 1.05...

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Topic: Dollar-Value LIFO (DVL) On January 1, 2010, the Johnson Company adopted the dollar-value LIFO method. The inventory value on this date was $500,000. Inventory data for 2010 through 2013 are as follows: Date Ending inventory at year-end costs
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Unformatted text preview: Cost index Dec. 31, 2010 $556,500 1.05 Dec. 31, 2011 $596,200 1.10 Dec. 31, 2012 $615,250 1.15 Dec. 31, 2013 $720,000 1.25 Required: Calculate Johnsons ending inventory for the years 2010-2013 using the dollar-value LIFO method....
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