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Use the following to answer questions 19 and 20: On January 1, 2018, Jacob Marley...

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Accounting

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Use the following to answer questions 19 and 20: On January 1, 2018, Jacob Marley Company adopted the dollar-value LIFO method for its inventory. The inventory value on this date was $590 million. The December 31, 2018 and 2019 ending inventory valued at year-end costs were $702 million and $810 million, respectively. The appropriate cost indexes are 1.08 for 12/31/2018 and 1.20 for 12/31/2019. Using the dollar-value LIFO method, ending inventory on Jacob Marley's balance sheet at December 31,2018 is: A) $637.2 million B) $702.0 milliorn C) $650.0 million D) $654.8 million 19. 20. Using the dollar-value LIFO method, ending inventory on Jacob Marley's balance sheet at December 31, 2019 is: A) $692.0 million B) $810.0 million C) $675.0 million D) $684.8 million

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