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Bond Company adopted the dollar-value LIFO inventory method on January 1, 2021. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:   Ending Inventory     Year At Year-End   At Base Year Cost   Cost Index 1/1/2021 $ 303,500     $ 303,500       1.00   12/31/2021   339,200       320,000       1.06   12/31/2022   432,000       360,000       1.20     Under the dollar-value LIFO method, the inventory at December 31, 2022, should be

Bond Company adopted the dollar-value LIFO inventory method on January 1, 2021. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:   Ending Inventory     Year At Year-End   At Base Year Cost   Cost Index 1/1/2021 $ 303,500     $ 303,500       1.00   12/31/2021   339,200       320,000       1.06   12/31/2022   432,000       360,000       1.20     Under the dollar-value LIFO method, the inventory at December 31, 2022, should be

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 11P: Olson Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015....
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Bond Company adopted the dollar-value LIFO inventory method on January 1, 2021. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:

  Ending Inventory    
Year At Year-End   At Base

Year Cost		   Cost Index
1/1/2021 $ 303,500     $ 303,500       1.00  
12/31/2021   339,200       320,000       1.06  
12/31/2022   432,000       360,000       1.20  
 

Under the dollar-value LIFO method, the inventory at December 31, 2022, should be

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