Enabled: Exam 2 (Chapters 6,7,8,9) Spring 2 0 Mercury Company has only one Inventory pool. On December 31, 2018, Mercury adopte Inventory on that date using the dollar-value LIFO method was $211,000. Inventory data Ending Inventory at Year-End Costs Rnding Invantory at Bann Yaar Coata Year $242,000 293,000 283,000 2019 $254,100 336,950 339,600 2020 2021 Required: Compute the inventory at December 31, 2019, 2020, and 2021, using the dollar-value lecimal places.) Inventory Layers Converted to Base Yoar Cost Inventory Layers Ca

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Foctoring Enabled: Exam 2 (Chapters 6,7,8,9) Spring 2..
Mercury Company has only one Inventory pool. On December 31, 2018, Mercury adopted the dollar-value LIFO Inventory method. The
Inventory on that date using the dollar-value LIFO method was $211,000. Inventory data are as follows:
18
Ending Inventory at
Year-End Costs
$254,100
336,950
339,600
Ending Inventory at
Base Year Costa
$242,000
293,000
283,000
Year
2019
2020
2021
Required:
Compute the inventory at December 31, 2019, 2020, and 2021, using the dollar-value LIFO method. (Round "Year end cost Index" to 2
declmal places.)
13
Ending
Inventory DVL
Cost
Inventory Layers Converted to Cost
Inventory Layers Converted to Base Year Cost
Inventory
at Year-
End Cost
Year-End
Cost
Index
Inventory
Layers at
Base Year
Cost
Inventory
Layers at Base
Year Cost
Year-End
Cost
Index
Inventory
Layers
Converted to
Cost
Date
Base
12/31/2018
Base
12/31/2019
2019
%3D
Base
12/31/2020
2019
2020
Base
12/31/2021
2019
2020
Transcribed Image Text:Help Save &Exit Subr Seved Foctoring Enabled: Exam 2 (Chapters 6,7,8,9) Spring 2.. Mercury Company has only one Inventory pool. On December 31, 2018, Mercury adopted the dollar-value LIFO Inventory method. The Inventory on that date using the dollar-value LIFO method was $211,000. Inventory data are as follows: 18 Ending Inventory at Year-End Costs $254,100 336,950 339,600 Ending Inventory at Base Year Costa $242,000 293,000 283,000 Year 2019 2020 2021 Required: Compute the inventory at December 31, 2019, 2020, and 2021, using the dollar-value LIFO method. (Round "Year end cost Index" to 2 declmal places.) 13 Ending Inventory DVL Cost Inventory Layers Converted to Cost Inventory Layers Converted to Base Year Cost Inventory at Year- End Cost Year-End Cost Index Inventory Layers at Base Year Cost Inventory Layers at Base Year Cost Year-End Cost Index Inventory Layers Converted to Cost Date Base 12/31/2018 Base 12/31/2019 2019 %3D Base 12/31/2020 2019 2020 Base 12/31/2021 2019 2020
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