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Question - Use the information below to answer the questions below.
Year 2
Year 1
Total Inventories FIFO
14,275
16,362
LIFO allowance
(1,233)
(1,423)
Total inventories, less allowances
13,042
14,939
Required - If inventories were reported at current cost in year 2, what would the amount be? Answer should only be numbers (i.e., 10,000 is 10000).
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