On January 1, 2009, the Sato Company adopted the dollars value LIFO method of inventory costing the company ending inventory records appears as follows:
|
Year |
Current |
Index cost |
|
|
2009 |
40,000 |
100 |
|
|
2010 |
56,100 |
120 |
|
|
2011 |
58,500 |
130 |
|
|
2012 |
70,000 |
140 |
Required:
Compute the ending inventory for the years 2009, 2010, 2011, and 2012 using the dollar value LIFO methods