Ashbrook Company adopted the dollar-value LIFO method on January 1, 2014 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.
Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2015? (Round price index and dollar-value LIFO inventory to 0 decimal places, e.g. 162.) Need help calculating Dollar Value LIFO inventory.
| Inventory |
At Base Year Cost |
At Current Year Cost |
| 1/1/14 |
226,000 |
226,000 |
| 12/31/14 |
242,000 |
290,400 |
| 12/31/15 |
265,000 |
325,950 |