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Inventory for abc co had ending inventory at base year

Question - Inventory for ABC Co. had ending inventory at base year process of $100,000 of which $20,000 was added last year. This is the first year (ie. base year us last year) and the index is 1.04 for the current year. What is the amount of Dollar Value LIFO inventory for the current year?

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Accounting Basics: Inventory for abc co had ending inventory at base year

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Accounting Basics: Inventory for abc co had ending inventory at base year

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