4. Ashbrook Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.
Inventory | At Base- Year Cost |
At Current- Year Cost |
||
1/1/20 | $200,000 | $200,000 | ||
12/31/20 | 240,000 | 264,000 | ||
12/31/21 | 256,000 | 286,720 |
Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2021?
