(Answered) 1 what is the dollar-value method of lifo inventory

Accounting

1. What is the dollar-value method of LIFO inventory valuation?

2. What advantage does the dollar-value method have over the specific goods approach of LIFO inventory valuation?

3. Why will the traditional LIFO inventory costing method and the dollar-value LIFO inventory costing method produce different inventory valuations if the composition of the inventory base changes?

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