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Compute the inventory at december

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Question - Wildhorse Company manufacturing one product. On December 31, 2019, Wildhorse adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $1,050,000. Inventory data are as follows:

Year

Inventory at year-end price

Price index (base year 2019)

2020

$1,272,600

1.05

2021

1,784,800

1.15

2022

1,915,000

1.25

Compute the inventory at December 31, 2020, 2021, and 2022, using the dollar-value LIFO method for each year.

Reference no: EM132425804

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