What is the ending inventory using dollar value lifo

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Reference no: EM131207665

Dollar-Value LIFO

A company adopted the LIFO method when its inventory was $1,800. One year later its ending inventory was $2,100 and costs had increased 5% during the year.

Required

What is the ending inventory using dollar-value LIFO?

Dollar-Value LIFO On January 1, 2006 the Sato Company adopted the dollar-value LIFO method of inventory cost- ing. The company's ending inventory records appear as follows:

Year	Current Cost	Index
2006	$40,000	100
2007	56,100	120
2008	58,500	130
2009	70,000	140

Required

Compute the ending inventory for the years 2006, 2007, 2008, and 2009, using the dollar-value LIFO method (round to the nearest dollar).

Reference no: EM131207665

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