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P&P products implemented Dollar Value LIFO inventory valuation in 2009, when their ending inventory was $650,000. The following are the inventory amounts for an ingredient
P&P products implemented Dollar Value LIFO inventory valuation in 2009, when their ending inventory was $650,000. The following are the inventory amounts for an ingredient used in packaging for 20 nyears 2010-2014:
Year Inventory at the end of year pricing Price Index
2010 697,200 105
2011 795,800 115
2012 805,200 120
2013 856,500 125
2014 901,800 135
1. Calculate the ending inventory for years 2009- 2014 using Dollar Value LIFO (show work)
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