Question
16.(5 points) Diane makes one product. Diana adopted the dollar-value LIFO inventory method on 12-31-12. Her ending inventory at 12-31-12 was $27,000. Additional inventory data
16.(5 points) Diane makes one product. Diana adopted the dollar-value LIFO inventory method on 12-31-12. Her ending inventory at 12-31-12 was $27,000. Additional inventory data follows:
Inventory atPrice indexCost of goods manufactured
Yearyear-end prices(base year 2012)during the year
2013$28,0501.020$170,000
2014$27,4701.025$185,000
2015$28,7731.035$197,000
2016$29,2601.045$172,000
2017$29,2951.050$195,000
2018$29,9821.052$208,000
Compute the inventory at December 31, 2013, 2014, 2015, 2016, 2017 and 2018 AND the cost of goods sold for each year assuming Diane uses the dollar-value LIFO method for each year.
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