dollar-value LIFO method
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 62E
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Topic Video
Question
Presented below is information related to Blue Company.
Date
|
Ending Inventory
(End-of-Year Prices) |
Price
Index |
||||
---|---|---|---|---|---|---|
December 31, 2017
|
$ 77,200 | 100 | ||||
December 31, 2018
|
249,951 | 221 | ||||
December 31, 2019
|
248,472 | 252 | ||||
December 31, 2020
|
280,098 | 273 | ||||
December 31, 2021
|
336,630 | 294 | ||||
December 31, 2022
|
401,685 | 305 |
Compute the ending inventory for Blue Company for 2017 through 2022 using the dollar-value LIFO method.
Ending Inventory
|
|||
---|---|---|---|
2017
|
$enter a dollar amount
|
||
2018
|
$enter a dollar amount
|
||
2019
|
$enter a dollar amount
|
||
2020
|
$enter a dollar amount
|
||
2021
|
$enter a dollar amount
|
||
2022
|
$enter a dollar amount
|
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