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In 2017 Anika Co

question 1402

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In 2017 Anika Co. adopted the simplified dollar- value LIFO method. Inventory under FIFO in 2017 and 2018 is
$400,000 and $600,000, respectively. The Consumer Price Index for 2017 is 115 and the Consumer Price Index in 2018 is 125 percent. How much is Anika's inventory at the end of year 2018 under simplified LIFO?


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