Compute the inventory at December

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Question - Mets Company adopted the dollar-value LIFO inventory method at December 31, 2017 The inventory on that date using the dollar-value LIFO inventory method was $240,000. Inventory data are as follows:

Year

Inventory at year-end prices

Price index (base year 2016)

2017

$240,000

1.00

2018

275,000

1.10

2019

300,000

1.20

Required - Compute the inventory at December 31, 2018, and 2019, using the dollar-value LIFO method for each year.

Reference no: EM132590985

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