Question
Culver Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that time the inventory had a cost of $51,000 and a
Culver Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that time the inventory had a cost of $51,000 and a retail price of $100,000. The following information is available.
| Year-End Inventory at Retail | Current Year CostRetail % | Year-End Price Index | |||||
|---|---|---|---|---|---|---|---|
| 2024 | $122,430 | 60% | 105 | ||||
| 2025 | 135,520 | 63% | 112 | ||||
| 2026 | 127,650 | 64% | 115 | ||||
| 2027 | 172,500 | 62% | 125 | ||||
The price index at January 1, 2024, is 100. Compute the ending inventory at December 31 of the years 20242027. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answers to 0 decimal places, e.g. 28,987.)
| 2024 | 2025 | 2026 | 2027 | |||||
|---|---|---|---|---|---|---|---|---|
| Ending inventory | $ |
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