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Compute the ending inventory for Pharoah Company

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Question - Pharoah Company had ending inventory at end-of-year prices of $183,000 at December 31, 2016; 204,600 at December 31, 2017; and $213,500 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 106 at 12/31/17, and 110 at 12/31/18. Compute the ending inventory for Pharoah Company for 2016 through 2018 using the dollar-value LIFO method.

Reference no: EM132796261

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