E8-25 Dollar-Value LIFO
Presented below is information related to Choctaw Company.
|
Date |
Ending Inventory (End-of-Year Prices) |
Price Index |
|
31-Dec-07 |
70,000 |
100 |
|
31-Dec-08 |
88,200 |
105 |
|
31-Dec-09 |
95,120 |
116 |
|
31-Dec-10 |
108,000 |
120 |
|
31-Dec-11 |
100,000 |
125 |
Instructions
Compute the ending inventory for Choctaw Company for 2007 through 2011 using the dollar-value LIFO method.