Solution-Compute the inventory at December

Compute the inventory at December

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Question - Crane Company manufactures one product. On December 31, 2019, Crane adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $940,000. Inventory data are as follows:

Year	Inventory at year-end prices	Price index (base year 2019)
2020	$1,285,200	1.05
2021	1,784,800	1.15
2022	2,025,000	1.25

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

Reference no: EM132624291

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Compute the inventory at December

Reference no: EM132624291

Reference no: EM132624291

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