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Vandalay Industries is an import-export company that uses valueLIF.pdf

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Vandalay Industries is an import-export company that uses valueLIFOforitsinventory.TheInventoryon12/31/2020was$70,000whenthepriceindexwas100 -value LIFO. On 12/31/2021, Vandalay had inventory of $85,600 (current prices) when the price index was 107%. On 12/31/2022, Vandalay had inventory of $86,250 (current prices) when the price index was 115%. What would Vandalay report as the $$-value LIFO in its financial statements?.

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Vandalay Industries is an import-export company that uses valueLIFOforitsinventory.TheInventoryon12/31/2020was$70,000whenthepriceindexwas100 -value LIFO. On 12/31/2021, Vandalay had inventory of $85,600 (current prices) when the price index was 107%. On 12/31/2022, Vandalay had inventory of $86,250 (current prices) when the price index was 115%. What would Vandalay report as the $$-value LIFO in its financial statements?

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  • 1. Vandalay Industries is an import-export company that uses valueLIFOforitsinventory.TheInventoryon12/31/2020was$70,000whenthepriceindexwas100 -value LIFO. On 12/31/2021, Vandalay had inventory of $85,600 (current prices) when the price index was 107%. On 12/31/2022, Vandalay had inventory of $86,250 (current prices) when the price index was 115%. What would Vandalay report as the $$-value LIFO in its financial statements?