Business, 20.03.2020 04:49 samm8940

Brock Co. adopted the dollar-value LIFO inventory method as of January 1, Year 6. A single inventory pool and an internally computed price index are used to compute Brock’s LIFO inventory layers. Information about Brock’s dollar-value inventory follows: Inventory At Base- At Current- At Dollar- Date Year Cost Year Cost Value LIFO 1/1/Yr 6 $40,000 $40,000 $40,000 Year 6 layer 5,000 14,000 6,000 12/31/Yr 6 $45,000 $54,000 $46,000 Year 7 layer 15,000 26,000 ? 12/31/Yr 7 $60,000 $80,000 ? What was Brock’s dollar-value LIFO inventory at December 31, Year 7?

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Brock Co. adopted the dollar-value LIFO inventory method as of January 1, Year 6. A single inventory...

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