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: Ending Inventory at Year-End Costs Ending Inventory at Base Year Costs Year 2022 $256, 200 340,400 343,200 $244,e00 296, e00 286, 000 2023 2024 Requlred: Compute the inventory at December 31, 2022, 2023, and 2024, using the dollar-value LIFO method. (Round "Year end cost Index" to 2 decimal places.)

A company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2024, with an inventory of $120,000 Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended December 31 2024 2025 2026 2027 Date Required: Calculate inventory amounts at the end of each year Note: Round intermediate calculations and final answers to the nearest whole dollars. 01/01/2024 12/31/2024 12/31/2025 12/31/2026 Ending Inventory at Cost Index (Relative to Year-End Costs Base Year) $ 198,000 261,800 243,600 240,800 12/31/2027 Inventory Layers Converted to Base Year Cost Inventory at Year End Cost Inventory Layers at Base Year Cost Inventory Layers Converted to Cost Inventory Layers Converted to Cost Base Base 2024 Base 2024 2025 Base 1.10 1.19 1.16 1.12 2024 2025 2026 Base 2024 2025 2026 2027 Inventory Layers at Base Year Cost Inventory DVL…

Inventory, 12/31/25 Purchases Purchase returns Purchase discounts Gross sales (before employee discounts) Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight in Employee discounts granted Loss from breakage (normal) Cost $158,500 752,100 42,300 11,400 37400 Retail $265.000 1,357,000 75,400 1,243,000 53,600 67,200 15,200 82,200 21,500 10.500 8.800

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Caterpillar Inc (CAT) has the following excerpts from their financial statements   December 31, 2021 December 31, 2020 Inventory (in $ Millions)                             14,038                             11,402 Net Income(in $ Millions)                                 6,489                             2,998   Inventories are principally determined using the last-in, first-out (LIFO) method. The value of inventories on the LIFO basis.   If the FIFO (first-in, first-out) method had been in use, inventories would have been $3,258 million and $2,921 million higher than reported at December 31, 2021 and 2020, respectively.   Assume corporate tax rate of 21%.       If CAT had used FIFO method instead of LIFO method   What inventory (in $ Millions) would CAT report for 2021?   What net income (profit) would CAT report in 2021?   What is the cumulative amount of income tax savings that CAT generated through end of 2021 by using LIFO instead of FIFO?   What…

On January 1, 2024, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2024 and 2025 are as follows: Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 20% discount) Price Index: January 1, 2024 December 31, 2024 December 31, 2025 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 2024 2024 Cost $ 48,000 103,040 3,200 Retail $ 64,000 120,000 2025 16,000 3,200 117,850 3,800 Cost 2025 $ 115,150 3,700 Retail Required: Estimate the 2024 and 2025 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method. Note: Do not round other intermediate calculations. Round your cost-to-retail percentage calculation to 2 decimal places and final answers to the nearest whole dollar. $ 133,000 10,400 3,400 119,440 5,920 1.00 1.06 1.12

On January 1, 2024, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2024 and 2025 are as follows: Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 20 % discount) Price Index: January 1, 2024 December 31, 2024 December 31, 2025 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 2024 2024 Cost $ 56,000 104,000 4,000 Retail $ 80,000 128,000 2025 20,000 4,000 129,465 2,700 Cost 2025 $ 109,695 4,500 Required: Estimate the 2024 and 2025 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method. Note: Do not round other intermediate calculations. Round your cost-to-retail percentage calculation to 2 decimal places and final answers to the nearest whole dollar. Retail $ 134,200 12,000 4,200 121,260 4,400 1.00 1.06 1.12

On January 1, 2024, a Company adopted the dollar-value LIFO method for its one inventory pool. The pool’s value on this date was $750,000. The 2024 and 2025 ending inventory valued at year-end costs were $793,000 and $882,000, respectively. The appropriate cost indexes are 1.04 for 2024 and 1.05 for 2025.   Required: Complete the below table to calculate the inventory value at the end of 2024 and 2025 using the dollar-value LIFO method.   Note: Round "Year end cost index" to 2 decimal places. Round other final answer values to the nearest whole dollars.

On January 1, 2024, a Company adopted the dollar-value LIFO method for its one inventory pool. The pool’s value on this date was $660,000. The 2024 and 2025 ending inventory valued at year-end costs were $690,000 and $760,000, respectively. The appropriate cost indexes are 1.04 for 2024 and 1.08 for 2025. Required: Complete the below table to calculate the inventory value at the end of 2024 and 2025 using the dollar-value LIFO method.