Compute the ending inventory for Splish Company for 2022 through 2027 using the dollar-value LIFO method. 2022 2023 2024 2025 2026 2027 $ s in $ $ Ending Inventory

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.