Question
Presented below is information related to Coronado Corporation for the last 3 years. Base-Year Cost Current-Year Cost Item Quantities in Ending Inventories Unit Cost Amount
Presented below is information related to Coronado Corporation for the last 3 years.
| Base-Year Cost | Current-Year Cost | |||||||||
| Item | Quantities in Ending Inventories | Unit Cost | Amount | Unit Cost | Amount | |||||
| December 31, 2019 | ||||||||||
| A | 10,200 | $2.00 | $20,400 | $2.20 | $22,440 | |||||
| B | 6,400 | 3.00 | 19,200 | 3.55 | 22,720 | |||||
| C | 4,200 | 5.00 | 21,000 | 5.40 | 22,680 | |||||
| Totals | $60,600 | $67,840 | ||||||||
| December 31, 2020 | ||||||||||
| A | 10,200 | $2.00 | $20,400 | $2.60 | $26,520 | |||||
| B | 8,000 | 3.00 | 24,000 | 3.75 | 30,000 | |||||
| C | 6,400 | 5.00 | 32,000 | 6.40 | 40,960 | |||||
| Totals | $76,400 | $97,480 | ||||||||
| December 31, 2021 | ||||||||||
| A | 9,200 | $2.00 | $18,400 | $2.70 | $24,840 | |||||
| B | 9,200 | 3.00 | 27,600 | 4.00 | 36,800 | |||||
| C | 6,400 | 5.00 | 32,000 | 6.20 | 39,680 | |||||
| Totals | $78,000 | $101,320 | ||||||||
Compute indexes. (Round price index to 2 decimal places, e.g. 1.62.)
| 2019 | 2020 | 2021 | ||||
| Index |
eTextbook and Media
Compute the ending inventories under the dollar-value LIFO method for 2019, 2020, and 2021. The base period is January 1, 2019, and the beginning inventory cost at that date was $41,200. (Round answers to 0 decimal places, e.g. 5,620.)
| 2019 | 2020 | 2021 | ||||
| Ending Inventories | $ | $ | $ |
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Fundamentals of Financial Management
Authors: Eugene F. Brigham
Concise 9th Edition
1305635937, 1305635930, 978-1305635937
