Monetary Values

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Definitions
Dollar-Value LIFO
Dollar-Value LIFO Inventory Valuation Last in First Out Accounting Methods Price Indices Financial Statements Base-Year Prices Monetary Values
In the USA, a method of expressing the value of an inventory in monetary values rather than units. Each homogeneous group of inventory items is converted into base-year prices using appropriate price indices. The difference between opening and closing inventories is measured in monetary terms of the change during the accounting period.
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