Presented below is information related to Tamarisk Company. Ending Inventory (End-of-Year Prices) Price Date Index December 31, 2017 $ 87,400 100 December 31, 2018 212,625 189 December 31, 2019 209,304 216 December 31, 2020 235,170 234 December 31, 2021 281,736 252 December 31, 2022 339,039 261 Compute the ending inventory for Tamarisk Company for 2017 through 2022 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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Topic Dollar Value LIFO inventory. 

looking for 2020 ending inventory. When comparing the current year end inventory at Base year prices compared to the previous year sometimes you "peel off a layer" and when that layer that is peeled off is exhausted you no longer can compare the following year with it. My problem is with the 2020 year, because the 2019 year is peeling off a layer, and then 2020 peels off a 2nd layer and part of the base year. 

 

The results I got were 

2017 $87400

2018 $134839

2019 $105355

2020 $84900

2021 $152688

2022 $199929

 

Did I do this correctly? 

 

Current Attempt in Progress
Presented below is information related to Tamarisk Company.
Ending Inventory
(End-of-Year Prices)
Price
Date
Index
December 31, 2017
$ 87,400
100
December 31, 2018
212,625
189
December 31, 2019
209.304
216
December 31, 2020
235,170
234
December 31, 2021
281,736
252
December 31, 2022
339,039
261
Compute the ending inventory for Tamarisk Company for 2017 through 2022 using the dollar-value LIFO method.
Ending Inventory
2017
24
2018
24
2019
2020
2021
24
2022
%24
%24
Transcribed Image Text:Current Attempt in Progress Presented below is information related to Tamarisk Company. Ending Inventory (End-of-Year Prices) Price Date Index December 31, 2017 $ 87,400 100 December 31, 2018 212,625 189 December 31, 2019 209.304 216 December 31, 2020 235,170 234 December 31, 2021 281,736 252 December 31, 2022 339,039 261 Compute the ending inventory for Tamarisk Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 24 2018 24 2019 2020 2021 24 2022 %24 %24
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