Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is...
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Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convertending Inventory to base year. The company began operations on January 1, 2021, with an inventory of $260,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended Ending Inventory December 31 Coat Index at Tear-Ind Conte (Relative to Base Year) 2021 2022 422,620 5336,000 1.13 2033 400,000 2024 1.06 Required: Calculate Inventory amounts at the end of each year. (Round intermediate calculations and final answers to the nearest whole dollars.) Inventory DVL Cost Inventory Layers Converted to Base Year Cost Inventory at Year-End Inventory Year End Cost Layers at Cost Index Base Year Cost Inventory Layers Converted to Cost Inventory Year-End Inventory Layers atlase Cost Layers Year Cost Index Converted to Cost Date $ 01/01/2021 12012021 Base Base 2021 $ 0 12012022 Base 2021 2022 $ 0 12012023 Base 2021 2022 2023 o 12/312024 2021 2022 2023 2024
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