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Presented below is information related to Kaisson Corporation for the last 3 years.


Base-Year Cost
Current-Year Cost
Item
Quantities
in Ending
Inventories
Unit Cost
Amount
Unit Cost
Amount
December 31, 2013







A
10,990
$2.47
$27,145
$2.71
$29,783
B
7,990
3.70
29,563
4.38
34,996
C
5,990
6.17
36,958
6.66
39,893




Totals
$93,666


$104,672
December 31, 2014







A
10,990
$2.47
$27,145
$3.21
$35,278
B
8,790
3.70
32,523
4.62
40,610
C
7,990
6.17
49,298
7.89
63,041




Totals
$108,966


$138,929
December 31, 2015







A
9,990
$2.47
$24,675
$3.33
$33,267
B
9,990
3.70
36,963
4.93
49,251
C
7,990
6.17
49,298
7.64
61,044




Totals
$110,936


$143,562

Compute the ending inventories under the dollar-value LIFO method for 2013, 2014, and 2015. The base period is January 1, 2013, and the beginning inventory cost at that date was $45,300.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9798396

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