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dollar-value LIFO method: Value of ending inventory

Need help learning how to calculate Dollar-Value using LIFO.

Layer at Base-Year Prices Ending Inventory at LIFO Cost
Ending Inventory Price Index
DATE End-of-year prices
December 31, 2004 80,000 100
December 31, 2005 115,500 105
December 31, 2006 108,000 120
December 31, 2007 122,200 130
December 31, 2008 154,000 140
December 31, 2009 176,900 145

Instructions
Compute the ending inventory for 2004 through 2009 using the dollar-value LIFO method.

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(Dollar-Value LIFO) ...

Solution Summary

Illustrate how to calculate the value of ending inventory using dollar value LIFO method

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