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    Ending inventory using dollar-value LIFO

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    Athens Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, Year 1. Its inventory at that date was $100,000 and the relevant price index was 100.
    Inventory at Price
    Date Current Prices Index
    December 31, Year 2 $128,400 107
    December 31, Year 3 $145,000 125
    December 31, Year 4 $169,000 130

    What is the cost of the ending inventory at December 31, Year 3, under dollar- value LIFO?
    o $116,000
    o $117,120
    o $117,400
    o $145,000

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    https://brainmass.com/business/inventory/ending-inventory-using-dollar-value-lifo-344514

    Solution Summary

    The solution explains how to calculate the ending inventory using dollar-value LIFO.

    $2.19

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