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Presented below is information related to Kingbird 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 Kingbird 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 | 11,100 | $ 2.00 | $ 22,200 | $ 2.20 | $ 24,420 | |||||
B | 6,200 | 3.00 | 18,600 | 3.55 | 22,010 | |||||
C | 4,300 | 5.00 | 21,500 | 5.40 | 23,220 | |||||
Totals | $ 62,300 | $ 69,650 | ||||||||
December 31, 2020 | ||||||||||
A | 11,100 | $ 2.00 | $ 22,200 | $ 2.60 | $ 28,860 | |||||
B | 8,900 | 3.00 | 26,700 | 3.75 | 33,375 | |||||
C | 6,200 | 5.00 | 31,000 | 6.40 | 39,680 | |||||
Totals | $ 79,900 | $ 101,915 | ||||||||
December 31, 2021 | ||||||||||
A | 10,100 | $ 2.00 | $ 20,200 | $ 2.70 | $ 27,270 | |||||
B | 10,100 | 3.00 | 30,300 | 4.00 | 40,400 | |||||
C | 6,200 | 5.00 | 31,000 | 6.20 | 38,440 | |||||
Totals | $ 81,500 | $ 106,110 |
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 $ 43,600
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