Business, 22.02.2021 19:10 tiggyandrep2dbee

On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $265,000. An internally generated cost index is used to convert ending inventory to base year. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended December 31 Inventory year end costs Cost index(relative to base year)
2021 $340,000 1.02
2022 350,000 1.06
2023 400,000 1.07
2024 430,000 1.10

Required:
Calculate inventory amounts at the end of each year.

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On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory va...

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