ANSWERS TO QUESTIONS - Information Technology

Ending inventory at base-year prices ($4,400 ÷ 1.4667) $3,000 Base layer (100 units at $20) 2,000 Increment in base-year dollars 1,000 Current index 1.4667 Increment in current dollars 1,467 Base layer (100 units at $20) 2,000 Ending inventory at dollar-value LIFO $3,467 EXERCISE 8-23 (5–10 minutes) ................
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