Business, 22.04.2020 15:22 ty1090

Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to the base year. The company began operations on January 1, 2021, with an inventory of $120,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended Ending Inventory Cost Index December 31 at Year-End Costs (Relative to Base Year) 2021 $ 198,000 1.10 2022 261,800 1.19 2023 243,600 1.16 2024 240,800 1.12 Required: Calculate inventory amounts at the end of each year. (Round intermediate calculations and final answers to the nearest whole dollars.)

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Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index i...

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