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A company uses the dollarvalue LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January with an inventory of $ Yearend inventories at yearend costs and cost indexes for its one inventory pool were as follows:
tableear Ended,Ending Inventory,at Cost Index ReDecember YearEnd Costs,Base Year$
Required:
Calculate inventory amounts at the end of each year.
Note: Round intermediate calculations and final answers to the nearest whole dollars.
tableDatetableInventory Layers Convertedto Base Year CostInventory Layers Converted to Cost,tableInventory DVLCosttableInventory atYearEndCosttableInventoryLayers atBase YearCosttableInventoryLayers at BaseYear CosttableInventoryLayersConverted toCostBase,,,$Base,,,,$Base,,,,$Base,,,,$Base,,,,$
