Question
The following information relates to the John Johnson Company. Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2016 $ 67,600 100 December 31, 2017
The following information relates to the John Johnson Company.
| Date | Ending Inventory (End-of-Year Prices) | Price Index | ||||
| December 31, 2016 | $ 67,600 | 100 | ||||
| December 31, 2017 | 96,792 | 111 | ||||
| December 31, 2018 | 104,796 | 123 | ||||
| December 31, 2019 | 118,491 | 127 | ||||
| December 31, 2020 | 110,922 | 133 | ||||
Use the dollar-value LIFO method to compute the ending inventory for Johnson Company for 2016 through 2020.
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Auditing A Risk Based Approach to Conducting a Quality Audit
Authors: Karla Johnstone, Audrey Gramling, Larry E. Rittenberg
10th edition
1305080572, 978-1305465664, 1305465660, 978-1305080577
