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What is the cost of the ending inventory at December

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Reference no: EM133024428

Question - Waterway Industries adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1108000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows:

Date

Inventory at Current Price

Current Price Index

31 -Dec-20

$1,278,000

105

31 -Dec-21

$1,451,000

123

31 -Dec-22

$1,627,000

128

Required - What is the cost of the ending inventory at December 31, 2021 under dollar-value LIFO?

Reference no: EM133024428

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