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Business, 09.07.2019 04:00 kennyg02

Terry company had january 1 inventory of $100,000 when it adopted dollar-value lifo. during the year, purchases were $600,000 and sales were $1,000,000. december 31 inventory at year-end prices was $143,360, and the price index was 112 (price index for base year = 100). what is terry’s ending inventory and gross profit, respectively

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Terry company had january 1 inventory of $100,000 when it adopted dollar-value lifo. during the year...
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