Hay company had january 1 inventory of 100000 when it, Ask an Expert

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Hay Company had January 1 inventory of $100,000 when it adopted dollar-value LIFO. During the year, purchases were $600,000 and sales were $1,000,000. December 31 inventory at year-end prices was $126,500, and the price index was 110.

What is Hay Company's ending inventory?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9436027

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