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What is the ending inventory using dollar-value LIFO

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Question - Concord Corporation began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years in end-of-year dollars was $307000 and $449400 and the year-end price indices were 1 and 1.20, respectively. Assuming the current inventory at end of year prices equals $623500 and the index for the current year is 1.25, what is the ending inventory using dollar-value LIFO?

Reference no: EM132288915

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