Compute the ending inventory for Sunland Company for 2016 through 2018 using the dollar-value LIFO method.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sunland Company had ending inventory at end-of-year prices of $184,500 at December 31, 2016; $204,700 at December 31, 2017; and $220,000 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 106 at 12/31/17, and 110 at 12/31/18.

Compute the ending inventory for Sunland Company for 2016 through 2018 using the dollar-value LIFO method. (*Round answers to 0 decimal places, e.g. 5,275.*)

|                 | 2016         | 2017         | 2018         |
|-----------------|--------------|--------------|--------------|
| Ending inventory| $ _________  | $ _________  | $ _________  |
Transcribed Image Text:Sunland Company had ending inventory at end-of-year prices of $184,500 at December 31, 2016; $204,700 at December 31, 2017; and $220,000 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 106 at 12/31/17, and 110 at 12/31/18. Compute the ending inventory for Sunland Company for 2016 through 2018 using the dollar-value LIFO method. (*Round answers to 0 decimal places, e.g. 5,275.*) | | 2016 | 2017 | 2018 | |-----------------|--------------|--------------|--------------| | Ending inventory| $ _________ | $ _________ | $ _________ |
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