Tamarisk Company had ending inventory at end-of-year cost of $116,900 at December 31, 2016; $143,640 at December 31, 2017; and $153,468 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 114 at 12/31/17, and 116 at 12/31/18.Compute the ending inventory for Tamarisk Company for 2016 through 2018 using the dollar-value LIFO method. 2016 2017 2018 Ending Inventory $ $ $
Tamarisk Company had ending inventory at end-of-year cost of $116,900 at December 31, 2016; $143,640 at December 31, 2017; and $153,468 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 114 at 12/31/17, and 116 at 12/31/18.Compute the ending inventory for Tamarisk Company for 2016 through 2018 using the dollar-value LIFO method. 2016 2017 2018 Ending Inventory $ $ $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Tamarisk Company had ending inventory at end-of-year cost of $116,900 at December 31, 2016; $143,640 at December 31, 2017; and $153,468 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 114 at 12/31/17, and 116 at 12/31/18.
Compute the ending inventory for Tamarisk Company for 2016 through 2018 using the dollar-value LIFO method.
| 2016 | 2017 | 2018 | ||||
| Ending Inventory |
$
|
$
|
$
|
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