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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Expert Solution

ekkarill92 answered 1 year ago

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