SavedEnding Inventoryat Year-End Costs$436,800487,200518,500Date12/31/202112/31/202212/31/2023Cost Index1.041.121.22Required:Calculate Taylor's ending inventory for 2021, 2022, and 2023.Inventory Layers Converted to Base Year CostInventory Layers Converted to CostInventory DVLCostInventory atYear-EndCostYear-EndCostIndexInventoryLayers atBase YearCostInventoryLayers at BaseYear CostYear-EndCostIndexInventoryLayersConverted toCostPrIntDate01/01/2021$400,0001.00400,000 Base%24400,000 1.00400,000 $400,000400,000 x1.00400,000420,000 Base2021:12/31/2021$ 436,8001.04400,000中Base12/31/202220212022Base12/31/2023202120222023Next5 of 5( Prev%24%24%24%24%24%24%24

There are 3 methods to calculate & maintain the inventory in the manufacturing & trading…

Answered: Required: Calculate Taylor's ending…

Business

Accounting

Required: Calculate Taylor's ending inventory for 2021, 2022, and 2023.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Saved
Ending Inventory
at Year-End Costs
$436,800
487,200
518,500
Date
12/31/2021
12/31/2022
12/31/2023
Cost Index
1.04
1.12
1.22
Required:
Calculate Taylor's ending inventory for 2021, 2022, and 2023.
Inventory Layers Converted to Base Year Cost
Inventory Layers Converted to Cost
Inventory DVL
Cost
Inventory at
Year-End
Cost
Year-End
Cost
Index
Inventory
Layers at
Base Year
Cost
Inventory
Layers at Base
Year Cost
Year-End
Cost
Index
Inventory
Layers
Converted to
Cost
PrInt
Date
01/01/2021
$400,000
1.00
400,000 Base
%24
400,000 1.00
400,000 $
400,000
400,000 x1.00
400,000
420,000 Base
2021:
12/31/2021
$ 436,800
1.04
400,000
中
Base
12/31/2022
2021
2022
Base
12/31/2023
2021
2022
2023
Next
5 of 5
( Prev
%24
%24
%24
%24
%24
%24
%24

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