Dollar-Value LIFO On January 1, 2015, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows: Year Current Cost Index 100 2015 120 2016 2017 2018 $34,900 48,780 2018 51,090 63,420 Required: Compute the ending inventory for the years 2015, 2016, 2017, and 2018, using the dollar-value LIFO method. Do not round your intermediate calculations. If required, round your answers to the nearest dollar. Year Ending inventory 2015 34,900 2016 2017 $ $ $ 130 140
Dollar-Value LIFO On January 1, 2015, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows: Year Current Cost Index 100 2015 120 2016 2017 2018 $34,900 48,780 2018 51,090 63,420 Required: Compute the ending inventory for the years 2015, 2016, 2017, and 2018, using the dollar-value LIFO method. Do not round your intermediate calculations. If required, round your answers to the nearest dollar. Year Ending inventory 2015 34,900 2016 2017 $ $ $ 130 140
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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