Ashbrook Company adopted the dollar-value LIFO method on January 1, 2014 (using internal price indexes...
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| Ashbrook Company adopted the dollar-value LIFO method on January 1, 2014 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. | |||||
| Inventory | At Base-Year | At Current-Year | |||
| Cost | Cost | ||||
| 1/1/2014 | $230,000 | $230,000 | |||
| 12/31/2014 | 243,000 | 291,600 | |||
| 12/31/2015 | 266,000 | 327,180 | |||
| Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2015? (Round price index and dollar-value LIFO inventory to 0 decimal places, e.g. 162.) | |||||
| 31-Dec-15 | |||||
| Price Index: ?? | | ||||
| Dollar-value LIFO inventory | ??? | ||||
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