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Dollar-Value LIFO

(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 1
December 31, 2005 115,500 1.05
December 31, 2006 108,000 1.2
December 31, 2007 122,200 1.3
December 31, 2008 154,000 1.4
December 31, 2009 176,900 1.45

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

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Solution Summary

The solution explains how to calculate the ending inventory using Dollar-Value LIFO

$2.19