1. Gates, Inc. uses the dollar-value LIFO method of computing its inventory. Inventory for the last...
nment Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Ended December 31 2016 2017 2018 Inventory at Current-Year Cost $20,100 22,048 25,648 Price Index 100 106 112 Compute the value of the 2017 and 2018 inventories using the dollar-value LIFO method. 2017 2018 Inventory under LIFOS
*Brief Exercise 8-9 Sheffield, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Ended Inventory at Current-Year Cost Price December 31 Index 2016 $18,100 100 2017 20,412 108 2018 24,069 113 Compute the value of the 2017 and 2018 inventories using the dollar-value LIFO method. 2018 2017 Inventory under LIFO $
Marigold, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Price Index Year Ended December 31 2016 2017 2018 Inventory at Current-Year Cost $19,500 21,924 25,650 100 108 114 Compute the value of the 2017 and 2018 Inventories using the dollar-value LIFO method. 2017 2018 Inventory under LIFO
Brief Exercise 8-9 Headland, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Ended December 31 Inventory at Current-Year Cost Price Index 2016 $19,500 100 2017 21,924 108 2018 25,650 114 Compute the value of the 2017 and 2018 inventories using the dollar-value LIFO method. 2017 2018 Inventory under LIFO $ $
Your answer is partially correct. Try again. Marigold, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Inventory Year Ended December 31 2016 Price Index Inventory at Current-Year Cost $19,500 21,924 2017 108 2018 25,650 114 1 Compute the value of the 2017 and 2018 inventories using the dollar-value LIFO method. 2017 2018 Inventory under LiFo 2086 22872
Question 10 Wildhorse, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Ended December 31 2019 2020 2021 Inventory at Current-Year Cost $21,700 23,520 28,175 Price Index 100 105 115 Compute the value of the 2020 and 2021 inventories using the dollar-value LIFO method. 2020 2021 Inventory under LIFO
On January 1, 2018, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $100,700. The ending inventory, valued at year-end costs, and the relative cost index for each of the next three years is below: Year-end Ending inventory at year-end costs Cost Index 2018 $ 128,205 1.05 2019 146,080 1.10 2020 156,540 1.20 In determining the inventory balance should Badger report in its 12/31/2019 balance sheet:
Dollar Value LIFO Nyhavn Inc. have the following inventory balances and price indices for the past few years: Price Index Date 1 Inventory Balance $680,000 $780,000 $845,000 $815,000 $750,000 1/1/2016 12/31/2016 12/31/2017 12/31/2018 12/31/2019 1.05 1.08 1.11 1.16 Using this information, determine the ending inventory balance using the Dollar Value LIFO method for each of the four years.
Dent Company manufactures one product. On December 31, 2005, Dent adopted the dollar-value LIFO inventory method. Inventory data for the years following the base-year are: Inventory at Price index Year year-end prices (base year 2005) 2015 $270,000 1.00 2016 378,000 1.05 2017 392,000 1.15 2018 475,000 1.25 Required: Please show all calculations (in formula form if desired) 1. Compute the ending inventory at December 31, 2016, 2017, and 2018, using the dollar-value LIFO method for each year. Clearly indicate the...
Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2021, with an inventory of $183,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Cost Index (Relative to Base Year) 1.05 Year Ended December 31 2021 2022 2023 2024 Ending Inventory at Year-End Costs $262,500 350, 460 330, 050 327,450 1.11 Required:...