Question
Dollar-Value LIFO On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows: Year Current
Dollar-Value LIFO
On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows:
| Year | Current Cost | Index |
| 2018 | $32,300 | 100 |
| 2019 | 45,780 | 120 |
| 2020 | 47,190 | 130 |
| 2021 | 58,940 | 140 |
Required:
Compute the ending inventory for the years 2018, 2019, 2020, and 2021, using the dollar-value LIFO method.
| Year | Ending inventory |
| 2018 | $fill in the blank 1 |
| 2019 | $fill in the blank 2 |
| 2020 | $fill in the blank 3 |
| 2021 | $fill in the blank 4 |
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Financial Accounting
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
5th Canadian edition
133472264, 978-0133446265, 133446263, 978-0133472264
