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Problem 8-11 Ivanhoe Company cans a variety of vegetable-type soups. Recently, the company decided to value its inventories using dollar-value LIFO pools. The clerk who

Problem 8-11 Ivanhoe Company cans a variety of vegetable-type soups. Recently, the company decided to value its inventories using dollar-value LIFO pools. The clerk who accounts for inventories does not understand how to value the inventory pools using this new method, so, as a private consultant, you have been asked to teach him how this new method works. He has provided you with the following information about purchases made over a 6-year period. Date Ending Inventory (End-of-Year Prices) Price Index Dec. 31, 2013 $73,600 100 Dec. 31, 2014 128,856 118 Dec. 31, 2015 123,950 134 Dec. 31, 2016 147,022 146 Dec. 31, 2017 168,147 157 Dec. 31, 2018 199,584 162 You have already explained to him how this inventory method is maintained, but he would feel better about it if you were to leave him detailed instructions explaining how these calculations are done and why he needs to put all inventories at a base-year value. Compute the ending inventory for Richardson Company for 2013 through 2018 using dollar-value LIFO. Ending Inventory 2013 $ 2014 $ 2015 $ 2016 $ 2017 $ 2018 $

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