Cameron Corp. uses the dollar-value-LIFO (DVL) inventory costing method. 2020 is the base year. Information regarding inventory for 2020 – 2022 is as follows: Date Ending Inventory at Current Prices (FIFO) Price Index 12/31/20 725000 100% or 1.0

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.