Whispering Company had ending inventory at end-of-year prices of $104,000 at December 31, 2019; $124,696 at December 31, 2020; and $139,800 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 120 at 12/31/21. Compute the ending inventory for Whispering Company for 2019 through 2021 using the dollar-value LIFO method. 2019 2020 2021 Ending Inventory $ $ $
Whispering Company had ending inventory at end-of-year prices of $104,000 at December 31, 2019; $124,696 at December 31, 2020; and $139,800 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 120 at 12/31/21. Compute the ending inventory for Whispering Company for 2019 through 2021 using the dollar-value LIFO method. 2019 2020 2021 Ending Inventory $ $ $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Whispering Company had ending inventory at end-of-year prices of $104,000 at December 31, 2019; $124,696 at December 31, 2020; and $139,800 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 120 at 12/31/21.
Compute the ending inventory for Whispering Company for 2019 through 2021 using the dollar-value LIFO method.
| 2019 | 2020 | 2021 | ||||
| Ending Inventory |
$
|
$
|
$
|
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