Computing Ending Inventory using DollarValue LIFO
On January of Year Benn Company changed from FIFO to LIFO for income tax and external reporting purposes. At that date, the beginning FIFO inventory the base inventory for LIFO purposes was $ The following information is available from Benns records for Year through Year
Year Ending Inventory on a FIFO Basis Price Index Year $ Year Year Year
Required
Compute the ending inventory on a dollarvalue LIFO basis for Year Year Year and Year
Note: Do not round until your final answer. Round your final answer to the nearest whole dollar
Dollarvalue LIFO ending inventory, Year
Dollarvalue LIFO ending inventory, Year
Dollarvalue LIFO ending inventory, Year
Dollarvalue LIFO ending inventory, Year
