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Kingston company uses the dollar-value lifo method of

Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2011, with an inventory of $150,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:

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Required:

Calculate inventory amounts at the end of each year.

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Accounting Basics: Kingston company uses the dollar-value lifo method of

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