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Grouper Company had ending inventory at end-of-year prices of $131,400 at December 31, 2016; $155,844 at December 31, 2017; and $176,160 at December 31, 2018.
Grouper Company had ending inventory at end-of-year prices of $131,400 at December 31, 2016; $155,844 at December 31, 2017; and $176,160 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 111 at 12/31/17, and 120 at 12/31/18. Compute the ending inventory for Grouper Company for 2016 through 2018 using the dollar-value LIFO method.
Ending Inventory
2016 -131, 400
2017-?
2018-?
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