Calculation of Ending inventory at dollar value LIFO method for 2013 through 2017.
Date | Ending inventory | Price index | Inventory (base year cost) | Increment |
Dec 31,2013 | $65,400 | 100 | 65,400/1.00=65,400 | - |
Dec 31,2014 | $107,690 | 121 | 107,690/1.21=89,000 | $23,600 |
Dec 31,2015 | $115,976 | 133 | 115,976/1.33=87,200 | ($1,800) |
Dec 31,2016 | $130,410 | 138 | 130,410/1.38=94,500 | $7,300 |
Dec 31,2017 | $121,104 | 144 | 122,104/1.44=84,100 | ($10,400) |
Dollar-Value LIFO
Date | Layer at base year × price index | Ending inventory at LIFO |
Dec 31,2013 | 65,400×1.00 | $65,400 |
Dec 31,2014 | 65,400×1.00+23,600×1.21 | $93,956 |
Dec 31,2015 | 65,400×1.00+21,800×1.21+0 | $91,778 |
Dec 31,2016 | 65,400×1.00+21,800×1.21+7,300×1.38 | $101,852 |
Dec 31,2017 | 65,400×1.00+18,700×1.21+0+0 | $88,027 |
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