Mercury Company has only one inventory pool. On December 31, 2024, Mercury adopted the dollar-value Inventory on that date using the dollar-value LIFO method was $203,000. Inventory data are as follows: Year 2025 2026 2027 Ending Inventory at Year Ending Inventory at Base End Costs $ 237,300 309,350 310,800 Year Costs $ 226,000 269,000 259,000 Required: Compute the inventory at December 31, 2025, 2026, and 2027, using the dollar-value LIFO method. Note: Round "Year end cost index" to 2 decimal places. Inventory Layers Converted to Base Year Coat Answer is not complete. Inventory

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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.