Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value...
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Accounting
Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $200,000. Inventory data are as follows: Ending Inventory at Ending Inventory at Year End Costs Base Year Costs $231,000 $220,000 2023 299,000 260,000 300,000 250,000 Year 2022 2024 Required: Compute the inventory at December 31, 2022 2023, and 2024 using the dollar value LIFO method. (Round "Year end cost index" to 2 decimal places.) 2 decimal places.) Answer is not complete. Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory DVL Cost Date Inventory at Year End Cost Year. End Cost Index Inventory Layers at Base Year Cost $ 200 000Base $ 220,000 Base 2022 12/31/2021 12/31/2022 $ 200.000 - 100 $ 231.000-105 Inventory Year- Layers at End Base Year Cost Cost Index $ 200.000 100= $ 200,000 100 $ 20.000 1 05 Inventory Layers Converted to Cost $ 200,000 $ 200,000 $ 200.000 21,000 $ 221,000 90 XXX tutu 12/31/2023 $ 299,000 > 115 $ 260 000 Base 2022 2023 S $ 5 200 000 100 20,000 105 40,000 1.15 - S 200,000 21,000 46 000 S $ 267.000 12/31/2024 $ 300.000 120 $ 250,000 S $ Base 2022 2023 2024 200.000 20.000 30 000 OK OOO OOO 100 105 = 1.15 0.00 $ $ 200,000 $ 21 000 IS 34 500 $ 0 OOO US 255 500


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