Homework Answers
Answer- Ending Inventory- 2016 =$126100.
2017= $146430.
2018 =$155355.
Explanation- 2017 = $154584/1.14 =$135600
Ending inventory == ($135600*1.00)+($9500*1.14) = $146430
*$135600-$126100 =$9500
2018= $170289/1.19 =$143100
= Ending Inventory ($135600*1.00)+($9500*1.14)+($7500*1.19) = $155355
$143100-$135600 =$7500
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splish company had ending inventory at end of year
Cost of a $124000 at December 31 2016; $148000 in 288 and December
31, 2017; and $154964 at December 31, 2018. The year and price
indexes were a 100 at 12/31/16, 112 at 12/31/17, and 118 at
12/31/18.
Compute the ending inventory for splish company for
2016 through 2018 using the dollar-value LIFO method
a y correct. Thyagan 21/16, 11213/31/17 intery at and 4000 at Decembar 1. 2016: 5148.78 December 3,...
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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
$
$
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splish company had ending inventory at end of year
Cost of a $124000 at December 31 2016; $148000 in 288 and December
31, 2017; and $154964 at December 31, 2018. The year and price
indexes were a 100 at 12/31/16, 112 at 12/31/17, and 118 at
12/31/18.
Compute the ending inventory for splish company for
2016 through 2018 using the dollar-value LIFO method
a y correct. Thyagan 21/16, 11213/31/17 intery at and 4000 at Decembar 1. 2016: 5148.78 December 3,...
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Exercise 8-23 The following information relates to the Richard Miller Company. Price Index Date Ending Inventory (End-of-Year Prices) $ 66,900 103,194 110,940 124,887 115,787 December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 100 117 Nm w 139 Use the dollar-value LIFO method to compute the ending inventory for Miller Company for 2016 through 2020. Ending Inventory ____ 2016 $ 2017 2018 2019 + $ 2020 +
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
$
$
Exercise 8-23 The following information relates to the Richard Miller Company. Price Index Date Ending Inventory (End-of-Year Prices) $ 66,900 103,194 110,940 124,887 115,787 December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 100 117 Nm w 139 Use the dollar-value LIFO method to compute the ending inventory for Miller Company for 2016 through 2020. Ending Inventory ____ 2016 $ 2017 2018 2019 + $ 2020 +
8. (10 points) The following information relates to the Windsor Company. Ending Inventory Price Date (End-of-Year Prices) Index December 31, 2013 $ 63,500 100 December 31, 2014 105,434 119 December 31, 2015 113,446 December 31, 2016 128,792 December 31, 2017 118,158 141 Use the dollar-value LIFO method to compute the ending inventory for Windsor Company for 2013 through 2017.
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