Problem
Presented below is information related to Sheridan Company.
Date
|
Ending Inventory (End-of-Year Prices)
|
Price Index
|
December 31, 2014
|
$ 83,800
|
100
|
December 31, 2015
|
176,802
|
158
|
December 31, 2016
|
175,320
|
180
|
December 31, 2017
|
197,535
|
195
|
December 31, 2018
|
238,140
|
210
|
December 31, 2019
|
286,452
|
218
|
Compute the ending inventory for Sheridan Company for 2014 through 2019 using the dollar-value LIFO method.