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Exercise 8-23 The following information relates to the Sage Company. Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2013 $ 65,200 100 December 31,
Exercise 8-23
The following information relates to the Sage Company.
| Date | Ending Inventory (End-of-Year Prices) | Price Index | ||||
| December 31, 2013 | $ 65,200 | 100 | ||||
| December 31, 2014 | 106,560 | 120 | ||||
| December 31, 2015 | 114,444 | 132 | ||||
| December 31, 2016 | 130,287 | 137 | ||||
| December 31, 2017 | 122,980 | 143 | ||||
Use the dollar-value LIFO method to compute the ending inventory for Sage Company for 2013 through 2017.
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