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Inventory at December 31, 2007, 2008, 2009, using the dollar

Eller Company manufactures one product. On December 31, 2006, Eller adopted the dollar-value-value LIFO inventory method. The inventory on that date using the dollar value LIFO inventory method was $250,000. Inventory data are as follows:

Year Inventory at year-end prices price index (base year 2002)
2007 $342,300 1.05
2008 $442,750 1.15
2009 $425,000 1.25

INSTRUCTIONS:
Compute the inventory at December 31, 2007, 2008, 2009, using the dollar-value LIFO method for each year.

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Eller Company manufactures one product. On December 31, 2006, Eller adopted the dollar-value-value LIFO inventory method. The inventory on that date using the dollar value LIFO inventory ...

Solution Summary

Solution explains the inventory at December 31, 2007, 2008, 2009, using the dollar-value LIFO method for each year

$2.19