Question
Presented below is information related to Sage Hill, Inc. Date End-of-Year Inventory (End-of-Year Prices) Price Index December 31, 2017 $1,350,000 100 December 31, 2018 1,680,000
Presented below is information related to Sage Hill, Inc.
| Date | End-of-Year Inventory (End-of-Year Prices) | Price Index | ||||
|---|---|---|---|---|---|---|
| December 31, 2017 | $1,350,000 | 100 | ||||
| December 31, 2018 | 1,680,000 | 105 | ||||
| December 31, 2019 | 1,694,000 | 110 | ||||
| December 31, 2020 | 1,989,000 | 117 | ||||
Compute the ending inventory for Sage Hill, Inc. for 2017 through 2020 using the dollar-value LIFO method.
| Ending Inventory | |||
|---|---|---|---|
| 2017 | $enter the ending inventory in dollars | ||
| 2018 | $enter the ending inventory in dollars | ||
| 2019 | $enter the ending inventory in dollars | ||
| 2020 | $enter the ending inventory in dollars |
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Auditing The Procurement Function The Iia Research Foundation Handbook Series
Authors: David O Regan, CIA, FCA
1st Edition
0894136224, 978-0894136221
