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The Bravo Company Manufactures a Single Product Required:
Compute the Inventory Amount at December 31,2013,2014,and 2015 Using

Question 161

Essay

The Bravo Company manufactures a single product.On December 31,2012 Bravo adopted the dollar-value LIFO inventory method.The inventory on that date using the dollar-value LIFO inventory method was determined to be $500,000.Inventory data for succeeding years are as follows:
 Year Ended December 31  Inventory at Respective  Year-end Prices  Relevant Price Index  (Base Year 2012) 2012$500,0001.002013527,0001.082014635,0001.152015645,0001.21\begin{array}{rrr}\text { Year Ended December 31 } & \begin{array}{c}\text { Inventory at Respective } \\\text { Year-end Prices }\end{array} & \begin{array}{c}\text { Relevant Price Index } \\\text { (Base Year 2012) }\end{array}\\2012 & \$ 500,000 & 1.00 \\2013 & 527,000 & 1.08 \\2014 & 635,000 & 1.15 \\2015 & 645,000 & 1.21\end{array}
Required:
Compute the inventory amount at December 31,2013,2014,and 2015 using the dollar-value LIFO inventory method for each year.(Round all amounts to the nearest dollar.)

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