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Compute the inventory at december

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Aber Company manufactures one product. On December 31, 2019, Aber adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $900,000. Inventory data are as follows:

                                     Inventory at              Price index

Year                                   year-end prices        (base year 2019)

2020                             $1,260,000                    1.05

2021                              1,840,000                        1.15

2022                                1,900,000                         1.25

Instructions

Problem 1: Compute the inventory at December 31, 2020, 2021, and 2022, using the dollar-value LIFO method for each year.

Reference no: EM132807240

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