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Tarheel company uses dollar value lifo for their inventory

Question - Tarheel Company uses dollar value LIFO for their inventory. They began this in 2013 and made 2013 the base year of 100. Below are the inventories at year end costs and before adjustment to dollar value LIFO for 2013, 2014, and 2015.

Inventory balance Price Level Index Dollar value LIFO

2013 $100,000 100 $100,000

2014 $145,000 110

2015 $ 90,000 115

Determine the dollar value LIFO inventory for 2015.

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Accounting Basics: Tarheel company uses dollar value lifo for their inventory

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Accounting Basics: Tarheel company uses dollar value lifo for their inventory

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