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Compute the inventory at December

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Question - Aber Company manufactures one product. On December 31, 2019, Aber adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $900,000. Inventory data are as follows:

Year

Inventory at year-end prices

Price index (base year2019)

2020

$1,260,000

1.05

2021

1,840,000

1.15

2022

1,900,000

1.25

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

Reference no: EM132718145

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