Liquidated Corporation had a DVL inventory of $800,000 at the beginning of the current year when it adopted DVL. Its year-end inventory at year-end prices was $850,000. The index for the current year was 1.08.
Required:
Compute the DVL inventory to be reported at the end of the year.

Question

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The Answer of Liquidated Corporation had a DVL inventory of $800,000 at the beginning of the current year when it adopted DVL. Its year-end inventory at year-end prices was $850,000. The index for the current year was 1.08.
Required:
Compute the DVL inventory to be reported at the end of the year.

Liquidated Corporation Had a DVL Inventory of $800,000 at the Beginning