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Waterway Company cans a variety of vegetable-type soups. Recently, the company decided to value its...

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Accounting

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Waterway Company cans a variety of vegetable-type soups. Recently, the company decided to value its inventories using dollar value LIFO pools. The derk who accounts for inventories does not understand how to value the inventory pools using this new method, so, as a private consultant, you have been asked to teach him how this new method works. He has provided you with the following information about purchases made over a 6-year period. Ending Inventory (End-of-Year Prices) $75,200 138.250 135,278 160,735 183.867 215,731 Date Dec 31, 2016 Dec. 31, 2017 Dec 31, 2018 Dec. 31, 2019 Dec 31, 2020 Dec 31, 2021 Price Index 100 125 143 155 167 173 You have already explained to him how this inventory method is maintained, but he would feel better about it if you were to leave him detailed instructions explaining how these calculations are done and why he needs to put all inventories at a base-year value Compute the ending inventory for Waterway Company for 2016 through 2021 using dollar value LIFO. Ending Inventory 119325 99325 2016 2017 2018 2019 2020 2021 $ $ $ $ $ $ 113430

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