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

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 $275,000. 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 Inventory Cost Index
December 31 Year-End Costs (Relative to Base Year)
2021 $ 364,350 1.05
2022 374,960 1.09
2023 424,600 1.10
2024 454,260 1.13


Required:
Calculate inventory amounts at the end of each year. (Round intermediate calculations and final answers to the nearest whole dollars.)
  

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ekkarill92 answered 1 year ago
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