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Udon Incadopted Dollar-Value LIFO (DVL)as of January 1,2016,when It Had an an Inventory

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Udon Inc.adopted dollar-value LIFO (DVL) as of January 1,2016,when it had an inventory of $700,000.Its inventory as of December 31,2016,was $777,000 at year-end costs and the cost index was 1.05.What was DVL inventory on December 31,2016?

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Definitions:

Gel Separator

A material used in blood collection tubes that separates blood cells from serum or plasma after centrifugation.

Clot Activator

A substance used in blood collection tubes that encourages blood clotting, facilitating serum separation for testing.

Potassium Oxalate

A chemical compound used as an anticoagulant in blood collection tubes, as well as in certain bleaching and cleaning processes.

Culture Media

Nutrient-rich substances used in laboratories to grow and maintain microorganisms, cells, or plant tissues under controlled conditions.

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