Hello! I have worked out all these questions, but want to double
check them with your answers before submitting them. Thanks!
1. On December 31, 20X1, a company adopted the dollar-value LIFO
inventory method. Inventory at the end of 20X1 for its only
inventory pool was $400,000 under the dollar-value LIFO method. At
the end of 20X2, inventory at year-end cost is $473,000 and the
cost index is 1.10. At the end of 20X3, inventory at year-end cost
is $492,000...