Reference no: EM132882846

Problem - Dollar-Value LIFO and Inventory Pools Webster Company adopted dollar-value LIFO on January 1, 2019. Webster produces three products: X, Y, and Z. Webster's beginning inventory consisted of the following:

Type	Quantity	Cost per Unit	Total Cost
X	30,000	$4.25	$127,500
Y	10,000	3.50	35,000
Z	25,000	2.00	50,000
	65,000		$212,500

During 2019, Webster had the following purchases and sales:

Type	Quantity Purchased	Cost Per Unit	Quantity Sold	Selling Price per Unit
X	110,000	$4.75	90,000	$10.00
Y	100,000	3.75	85,000	7.50
Z	75,000	2.10	70,000	5.00
	285,000		245,000

Required -

1. Compute the LIFO cost of the ending inventory assuming Webster uses a single inventory pool. Round cost index to 4 decimal places.

2. Compute the LIFO cost of the ending inventory assuming Webster uses three inventory pools. Round cost indexes to 4 decimal places.