Problem # 2 (Dollar-Value LIFO) Presented below is information related to Meghani Company.

Instructions

Compute the ending inventory for Meghani Company for 2014 through 2019 using the dollar-value LIFO method.

Date December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 Ending Inventory (End-of-Year Prices) $180,000 220,500 218,500 242,500 283,500 310,800 Price Index 100 105 115 125 135 140