Arna, Inc. uses the dollar value LIFO method of computing its inventory. Data for the past 3 years follow.
|
Year Ended December 31 |
Inventory at Current Year Cost |
Price Index |
|
2011 |
$19,750 |
100 |
|
2012 |
22,140 |
108 |
|
2013 |
25,935 |
114 |
Instructions
Compute the value of the 2012 and 2013 inventories using the dollar value LIFO method.