Dollar Value LIFO On January 1, 2006 the Sato Company adopted the dollar value LIFO method of inventory costing. The company’s ending inventory records appear as follows:
|
Year |
Current Cost |
Index |
|
2006 |
$40,000 |
100 |
|
2007 |
56,100 |
120 |
|
2008 |
58,500 |
130 |
|
2009 |
70,000 |
140 |
Required
Compute the ending inventory for the years 2006, 2007, 2008, and 2009, using the dollar value LIFO method (round to the nearest dollar).