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Please help me find the answer for 2018 and show each calculation in detail and steps. Thank you. Sheridan Company had ending inventory at end-of-year
Please help me find the answer for 2018 and show each calculation in detail and steps. Thank you.
Sheridan Company had ending inventory at end-of-year prices of $201,500 at December 31, 2016; 227,300 at December 31, 2017; and $246,500 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 106 at 12/31/17, and 110 at 12/31/18. Compute the ending inventory for Sheridan Company for 2016 through 2018 using the dollar-value LIFO method. (Round answers to O decimal places, e.g. 5,275.) 2016 2017 2018 Ending inventory $ 201,500 $ 215,210 ta 224,979Step by Step Solution
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