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    dollar-value LIFO method: Value of ending inventory

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    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.

    © BrainMass Inc. brainmass.com June 3, 2020, 7:19 pm ad1c9bdddf
    https://brainmass.com/business/inventory/dollar-value-lifo-method-value-of-ending-inventory-93199

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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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