Question

Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar value LIFO inventory method. The Inventory on that date using the dollar value LIFO method was $212,000. Inventory data are as follows: Year 2022 2023 2024 Ending Inventory at Ending Inventory at Year-End Costs Base Year Costs $256,200 $244,000 340,400 296, eee 343,200 286, eee

Answer 1

1 sate at yed cost Inventory layers Connected to Base year cont. Inventory 1 year, en Innentoon Layers at have end cost indea year costs $ 2120001 $ 212000 $956200 L 1005 $ 340400 1.15 $296000 $393200 1.2 $ 286000 $ 244000 23 24

28 29 30 31 Inventory layey converted to cost I venhay coll cost Inventory DuL cost inventory layers a to hayes at end cost / Inventory endea. Converted to bane year cort cont Base $212000 1 Base $218000 I 9022 $32000 1.05 Bare $212000 9022 $32000l 1.05 2023 $520001015 Base $2/2000 1 2022 $32000 / 1.05 2023 $42000 1015 2012 novel fo2y ($10000) 12 $ 912000 $212000 $33600 $245600 $ 219000 1 $33600 $59800 $305400 $2/2000 $33600 $09860 $48300 1 $293900