Question
Presented below is information related to Kaisson 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 Kaisson 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, 2013 | ||||||||||
A | 9,760 | $2.90 | $28,304 | $3.19 | $31,134 | |||||
B | 6,760 | 4.35 | 29,406 | 5.14 | 34,746 | |||||
C | 4,760 | 7.25 | 34,510 | 7.82 | 37,223 | |||||
Totals | $92,220 | $103,103 | ||||||||
December 31, 2014 | ||||||||||
A | 9,760 | $2.90 | $28,304 | $3.77 | $36,795 | |||||
B | 7,560 | 4.35 | 32,886 | 5.43 | 41,051 | |||||
C | 6,760 | 7.25 | 49,010 | 9.27 | 62,665 | |||||
Totals | $110,200 | $140,511 | ||||||||
December 31, 2015 | ||||||||||
A | 8,760 | $2.90 | $25,404 | $3.91 | $34,252 | |||||
B | 8,760 | 4.35 | 38,106 | 5.80 | 50,808 | |||||
C | 6,760 | 7.25 | 49,010 | 8.98 | 60,705 | |||||
Totals | $112,520 | $145,765 |
Your answer is correct. | |
Compute indexes. (Round price index to 2 decimal places, e.g. 1.62.)
2013 Price index = 1.12 2014 Price index = 1.28 2015 Price index = 1.30 I already computed the price indexes I need the rest of the problem.
Compute the ending inventories under the dollar-value LIFO method for 2013, 2014, and 2015. The base period is January 1, 2013, and the beginning inventory cost at that date was $52,300. (Round answers to 0 decimal places, e.g. 5,620.) PLEASE SHOW WORK!!!!! |
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