On January 1, 2011, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its
Question:
On January 1, 2011, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $400,000. Inventory data for 2011 through 2013 are as follows:
Required:
Calculate Taylor's ending inventory for 2011, 2012, and 2013.
Transcribed Image Text:
Ending Inventory at Year-End Costs Cost Index Date 12/31/11 12/31/12 12/31/1 $441.000 487.200 510,000 1.05 1.12 1.20
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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