Presented below is information related to Crane Company. Date December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 Ending Inventory (End-of-Year Prices) $72,600 113,220 110,432 124,740 148,240 176,814 Price Index 100 102 116 126 136 141

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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.