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Question - The Andrews Company has just purchased $58,583,200 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $5,858,320. What will the book value of this purchase (exclude all other plant and equipment) be after its third year of use? (Use FASB GAAP)
$42,179,904
$50,772,107
$46,866,560
$48,038,224
The current-year ending inventory at current prices is $2,226,000, and the LIFO index is 1.06 Determine the company's LIFO inventory
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