Crane Company adopted the dollar-value LIFO inventory method on December 31, 2020. Crane's entire inventory constitutes a single pool. On December 31, 2020, the inventory was $968000 under the dollar- value LIFO method. Inventory data for 2021 are as follows: 12/31/21 inventory at year-end prices $ 1300000 Relevant price index at year end (base year 2020) 108 Using dollar value LIFO, Crane's inventory at December 31, 2021 is (Round intermediate calculations and final answer to 0 decimal places, e.g. 10,000.) $1300000. $1203704. $1222560. $1045440.

Crane Company adopted the dollar-value LIFO inventory method on December 31, 2020. Crane's entire inventory constitutes a single pool. On December 31, 2020, the inventory was $968000 under the dollar- value LIFO method. Inventory data for 2021 are as follows: 12/31/21 inventory at year-end prices $ 1300000 Relevant price index at year end (base year 2020) 108 Using dollar value LIFO, Crane's inventory at December 31, 2021 is (Round intermediate calculations and final answer to 0 decimal places, e.g. 10,000.) $1300000. $1203704. $1222560. $1045440.

Name: Crane Company adopted the dollar-value LIFO inventory method on Decem
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Description: Crane Company adopted the dollar-value LIFO inventory method on December 31, 2020. Crane's entireinventory constitutes a single pool. On December 31, 2020, the inventory was $968000 under the dollar-value LIFO method. Inventory data for 2021 are as

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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