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Faucci Industries, Inc. uses the dollar-value LIFO method of computing its inventory cost with December 31, 2015 representing the base cost. Data for the past
Faucci Industries, Inc. uses the dollar-value LIFO method of computing its inventory cost with December 31, 2015 representing the base cost. Data for the past five years follows:
Year Ended December 31, | Inventory at FIFO | Index |
2015 | $ 85,000 | 100 |
2016 | 92,400 | 105 |
2017 | 102,120 | 111 |
2018 | 102,600 | 114 |
2019 | 110,200 | 116 |
Required:
Determine the inventory valuation for 2016 through 2019 using the dollar-value LIFO technique.
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