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    Computing Ending Inventory Using Dollar-value LIFO

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    Presented below is information related to Martin Company:

    Ending inventory
    Date (End-of-year prices) Price index
    12/31/07 $ 80,000 100
    12/31/08 111,300 105
    12/31/09 108,000 120
    12/31/10 122,200 130
    12/31/11 147,000 140
    12/31/12 176,900 145

    Compute the ending inventory for Martin Company for 2007 through 2012 using the dollar-value LIFO method.

    © BrainMass Inc. brainmass.com October 10, 2019, 4:31 am ad1c9bdddf
    https://brainmass.com/business/purchases-inventory-and-cogs/computing-ending-inventory-dollar-value-lifo-464762

    Solution Summary

    This solution illustrates how to compute a company's ending inventory under the dollar-value LIFO method when it increases and decreases from year to year.

    $2.19