(Dollar-Value LIFO) Presented below is information related to Martin Company.
|
Date
|
Ending Inventory
(End-of-Year Prices)
|
Price Index
|
|
31-Dec-09
|
$80,000
|
100
|
|
31-Dec-10
|
111,300
|
105
|
|
31-Dec-11
|
108,000
|
116
|
|
31-Dec-12
|
122,200
|
120
|
|
31-Dec-13
|
147,000
|
125
|
|
31-Dec-14
|
176,900
|
|
Instructions
Use the dollar-value LIFO method to compute the ending inventory for Choctaw Company for 2009 through 2013.