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LIFO Method Ending Inventory

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Easy E company has an ending inventory at end-of-year prices of $100,000 at Dec. 31, 2005; $123,200 at Dec. 31, 2006; and $134,560 at Dec 31, 2007. The year-end price indexes were 100 as 12/31/06; 110 at 12/31/07, and 116 at 12/31/07. Compute the ending inventory for 2005 through 2007 using the dollar-value LIFO method.

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Solution Summary

This solution contains step-by-step calculations to compute the ending inventory for 2005-2007 using a LIFO method, and all steps can be seen in an Excel file.

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LIFO Method for Ending Inventory

Easy E company has an ending inventory at ...

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