Arna inc. uses the dollar-value lifo method of computing, Ask an Expert

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Arna, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow.

Year ended December 31 Inventory at Current-year Cost Price Index
2009 $19,750 100
2010 22,140 108
2011 25,935 114

Compute the value of the 2010 and 2011 inventories using the dollar-value LIFO method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9450555

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