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On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $400,000.
On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $400,000. Inventory data for 2024 through 2026 are as follows: Date 12/31/2024 12/31/2025 12/31/2026 Ending Inventory at Year-End Costs $ 441,000 487,200 510,000 Cost Index 1.05 1.12 1.20 Required: Calculate the company's ending inventory for 2024, 2025, and 2026. Inventory Layers Converted to Base Year Cost Date Inventory at Year-End Cost Year-End Cost Index Inventory Layers at Base Year Cost 01/01/2024 12/31/2024 Base Inventory Layers Converted to Cost Inventory DVL Cost Inventory Layers at Base Year Cost Year-End Cost Index Inventory Layers Converted to Cost 0 Base 2024 $ 0 12/31/2025 Base 2024 2025 $ 0 12/31/2026 = Base 2024 2025 2026 $ 0
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