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The Genworth Company adopted the dollar value LIFO method on January 1, 2021 when the...

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Accounting

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The Genworth Company adopted the dollar value LIFO method on January 1, 2021 when the inventory value of its one inventory pool was $702,000. The company decided to use an external index, the Consumer Price Index (CPI), to adjust for changes in the cost level On January 1, 2021 the CPi was 220 On December 31, 2021. inventory valued at year-end cost was $798 000 and the CPI was 231 Required: Calculate the inventory value at the end of 2021 using the dollar-value LIFO method Inventory DVL Cost Date 12/31/2021

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