Question
Indigo Company had ending inventory at end-of-year cost of $113,100at December 31, 2016; $137,536at December 31, 2017; and $156,360at December 31, 2018. The year-end price
Indigo Company had ending inventory at end-of-year cost of $113,100at December 31, 2016; $137,536at December 31, 2017; and $156,360at December 31, 2018. The year-end price indexes were100at 12/31/16,112at 12/31/17, and120at 12/31/18.
Compute the ending inventory for Indigo Company for 2016 through 2018 using the dollar-value LIFO method.
201620172018Ending Inventory$
$
$
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
