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114,704 107 Dec. 31, 2023 111,386 122 Dec. 31, 2024 134,463 133 Dec. 31, 2025 152,581 143 Dec. 31, 2026 180,708 148 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. (a) Compute the ending inventory for Nash Company for 2021 through 2026 using dollar-value LIFO.

114,704 107 Dec. 31, 2023 111,386 122 Dec. 31, 2024 134,463 133 Dec. 31, 2025 152,581 143 Dec. 31, 2026 180,708 148 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. (a) Compute the ending inventory for Nash Company for 2021 through 2026 using dollar-value LIFO.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Nash Company cans a variety of vegetable-type soups. Recently, the company decided to value its inventories using dollar-value LIFO pools. The clerk 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. Date Ending Inventory (End-of-Year Prices) Price Index Dec. 31, 2021 $81,300 100 Dec. 31, 2022 114,704 107 Dec. 31, 2023 111,386 122 Dec. 31, 2024 134,463 133 Dec. 31, 2025 152,581 143 Dec. 31, 2026 180,708 148 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. (a) Compute the ending inventory for Nash Company for 2021 through 2026 using dollar-value LIFO. Ending Inventory 2021 $ 2022 $ 2023 $ 2024 $ 2025 $ 2026 $
Transcribed Image Text:Nash Company cans a variety of vegetable-type soups. Recently, the company decided to value its inventories using dollar-value LIFO pools. The clerk 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. Date Ending Inventory (End-of-Year Prices) Price Index Dec. 31, 2021 $81,300 100 Dec. 31, 2022 114,704 107 Dec. 31, 2023 111,386 122 Dec. 31, 2024 134,463 133 Dec. 31, 2025 152,581 143 Dec. 31, 2026 180,708 148 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. (a) Compute the ending inventory for Nash Company for 2021 through 2026 using dollar-value LIFO. Ending Inventory 2021 $ 2022 $ 2023 $ 2024 $ 2025 $ 2026 $
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