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(Dollar-Value LIFO) Presented below is information related to Dino Radja Company.
Date Ending Inventory (End-of-Year Prices) Price Index
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
Compute the ending inventory for Dino Radja Company for 2004 through 2009 using the dollar-value LIFO method.
The LIFO method assumes that the last item is the first to be sold. Now the Price Index is the inflation value, of the economy, and it is always measured as a percentage of a base year. In ...
The solution provides an explanation and method for determining the value of stock using dollar value Last In, First Out.