Presented below is information related to Marigold Company. December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 Date 2022 2023 2024 $ $ Ending Inventory (End-of-Year Prices) $ $77,100 116,865 115,440 129,870 154,840 186,325 Compute the ending inventory for Marigold Company for 2022 through 2027 using the dollar-value LIFO method. Ending Inventory 77100 113010 Price Index 97155 100 105 120 130 140 145

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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.