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E 8-23 Dollar-value LIFO

E 8-23 Dollar-value LIFO
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ACCOUNTING

Exercise 8-23 (E 8-23) Dollar-value LIFO

Mercury Company has only one inventory pool. On December 31, 2011, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $200,000. Inventory data are as follows:

Required:
Compute the inventory at December 31, 2012, 2013, and 2014, using the dollar-value LIFO method.

 

FILE: MS WORD

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