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Exercise 8-23. Please provide explanation. Exercise 8-23 The following information relates to the Pharoah Company Ending Inventory (End-of-Year Price Date Prices) Index December 31, 2013

Exercise 8-23. Please provide explanation.

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Exercise 8-23 The following information relates to the Pharoah Company Ending Inventory (End-of-Year Price Date Prices) Index December 31, 2013 December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 66,900 103,194 110,940 124,887 115,787 100 129 133 139 Use the dollar-value LIFO method to compute the ending inventory for Pharoah Company for 2013 through 2017 Ending Inventory 2013 2014 2015 2016 2017

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