Arna, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow.
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Year Ended
December 31
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Inventory at
Current-Year Cost
|
|
Price
Index
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2013
|
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$20,600
|
|
100
|
|
2014
|
|
22,896
|
|
108
|
|
2015
|
|
26,894
|
|
113
|
Compute the value of the 2014 and 2015 inventories using the dollar-value LIFO method.
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2014
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2015
|
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Inventory under LIFO
|
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$
|
|
$
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