What was dvl inventory on december, Accounting Basics

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What was dvl inventory on december

Problem

A company began using dollar-value LIFO (DVL) as of January 1, 2021, when it had a cost inventory of $550,000. Its inventory as of December 31, 2021, was $670,800 at year-end costs and the cost index was 1.04. What was DVL inventory on December 31, 2021?

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