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Q1) Ryan Hunt Company utilizes dollar-value LIFO method of calculating inventory. The external price index is utilized to convert ending inventory to base year.  Company started operations on January 1, 2006 with the inventory of $150,000.  Year end inventories at year-end costs and related cost indices for its one inventory pool were given below:

Year-ended 31-Dec

Inventory at Year-end Costs

Cost Index (Relative to Base Year)

2006

$200,000

1.08

2007

245,700

1.17

2008

235,980

1.14

2009

228,800

1.1

Compute carrying value of inventory on each year-end balance sheet.

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