Question
The following information relates to the Sheffield Company. Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2013 $ 63,500 100 December 31, 2014 105,434
The following information relates to the Sheffield Company.
| Date | Ending Inventory (End-of-Year Prices) | Price Index | ||||
| December 31, 2013 | $ 63,500 | 100 | ||||
| December 31, 2014 | 105,434 | 119 | ||||
| December 31, 2015 | 113,446 | 131 | ||||
| December 31, 2016 | 128,792 | 136 | ||||
| December 31, 2017 | 118,158 | 141 | ||||
Use the dollar-value LIFO method to compute the ending inventory for Sheffield Company for 2013 through 2017.
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Auditing An Assertions Approach
Authors: G. William Glezen, Donald H. Taylor
7th Edition
047113421X, 978-0471134213
