Pampp products implemented dollar value lifo inventory, Ask an Expert

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P&P products implemented Dollar Value LIFO inventory valuation in 2009, when their ending inventory was $650,000. The following are the inventory amounts for an ingredient used in packaging for 20 nyears 2010-2014:

Year Inventory at the end of year pricing Price Index

2010 697,200 105

2011 795,800 115

2012 805,200 120

2013 856,500 125

2014 901,800 135

1. Calculate the ending inventory for years 2009- 2014 using Dollar Value LIFO (show work)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9959146

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