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What inventory balance should ferret report

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Question - On January 1, 2019, Ferret, Inc., adopted the dollar-value LIFO method. The inventory cost on this date was $100,000. The 2019 ending inventory, valued at year-end costs, was $126,000. The relative cost index for this inventory in 2019 was 1.05. What inventory balance should Ferret report on its 12/31/19 balance sheet?

Reference no: EM133118722

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