Aber Company manufactures one product. On December 31, 2011, Aber adopted t he dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $270,000. Inventory data are as follows:
|
Inventory at |
Price index |
||
|
Year |
year-end prices |
(base= year 2009) |
|
|
2012 |
$378,000 |
1.05 |
|
|
2013 |
552,000 |
1.15 |
|
|
2014 |
575,000 |
1.25 |
Instructions
= Compute the inventory at December 31, 2012, 2013, and 2014, using the dollar-value LIFO method for each year.