On January 1, 2018, the Taylor Company adopted the dollar-value LIFO method. The inventory value...
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On January 1, 2018, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $310,000. Inventory data for 2018 through 2020 are as follows: Date 12/31/2018 12/31/2019 12/31/2020 Ending Inventory at Year-End Costs $339,900 382,950 398,650 Cost Index 1.03 1.11 1.19 Required Calculate Taylor's ending inventory for 2018, 2019, and 2020 Ending Inventory DVL Cost Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory at Year- End Cost Year-End Cost Index Inventory Layers at Base Year Cost Inventory Layers Inventory Year-End CostConverted to Index Date Layers at Base Year Cost Cost Base Base 2018 Base 2018 2019 Base 2018 2019 01/01/2018 12/31/2018 12/31/2019 12/31/2020
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