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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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?
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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