Presented below is information related to Sunland Company. Ending Inventory (End-of-Year Prices) $77.500 December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 2022 2023 2024 2025 Date 2026 2027 Compute the ending inventory for Sunland Company for 2022 through 2027 using the dollar-value LIFO method. Ending Inventory $ $ $ $ $ 120,054 $ 118,950 134,995 160,875 191,216 77500 80283.91 97500 101500 112500 Price Index 100 107 122 129200 133 143 148

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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.