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Liquidated Corporation Had a DVL Inventory of $800,000 at the Beginning

Question 113

Essay

Liquidated Corporation had a DVL inventory of $800,000 at the beginning of the current year when it adopted DVL. Its year-end inventory at year-end prices was $850,000. The index for the current year was 1.08.
Required:
Compute the DVL inventory (rounded) to be reported at the end of the year.

Correct Answer:

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DVL with a LIFO Liqu...

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