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Charles Inc. began using dollar-value LIFO for costing its inventory last year (base year). The ending inventory this year was $120,000 and the price index was 1.0. At the end of the current year, inventory at current costs is $180,000 and the year-end price index is 1.2. What is the ending inventory using dollar-value LIFO?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9800791

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