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a. Compute indexes. (Round price index to 2 decimal places, e.g. 1.62.) 2019 2020 2021 Index b. Compute the ending inventories under the dollar-value LIFO
a. Compute indexes. (Round price index to 2 decimal places, e.g. 1.62.)
2019 2020 2021
Index
b. Compute the ending inventories under the dollar-value LIFO method for 2019, 2020, and 2021. The base period is January 1, 2019, and the beginning inventory cost at that date was $43,400. (Round answers to 0 decimal places, e.g. 5,620.)
2019 2020 2021
Ending Invenoty
Presented below is information related to Crane Corporation for the last 3 years. Base-Year Cost Current-Year Cost Quantities in Ending Item Inventories Unit Cost Amount Unit Cost Amount December 31, 2019 A 9,100 $2.00 $18,200 $2.20 $20,020 B 6,100 3.00 18,300 3.55 21,655 C 4,100 5.00 20,500 5.40 22,140 Totals $57,000 $63,815 December 31, 2020 A 9,100 $2.00 $18,200 $2.60 $23,660 B 6,900 3.00 20,700 3.75 25,875 6,100 5.00 30,500 6.40 39,040 Totals $69,400 $88,575 December 31, 2021 A 8,100 $2.00 $16,200 $2.70 $21,870 B 8,100 3.00 24,300 4.00 32,400 C 6,100 5.00 30,500 6.20 37,820 Totals $71,000 $92,090 Compute indexes. (Round price index to 2 decimal places, e.g. 1.62.)Step by Step Solution
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