E8-25 Dollar-Value LIFO
Presented below is information related to Martin Company.
|
Date |
Ending Inventory (End-of-Year Prices) |
Price Index |
|
31-Dec-09 |
80,000 |
100 |
|
31-Dec-10 |
111,300 |
105 |
|
31-Dec-11 |
108,000 |
120 |
|
31-Dec-12 |
122,200 |
130 |
|
31-Dec-13 |
147,000 |
140 |
|
31-Dec-14 |
176,900 |
$145 |
Instructions
Compute the ending inventory for Martin Company for 2009 through 2014 using the dollar-value LIFO method.