Problem
The following information relates to the Choctaw Company.
|
|
Ending Inventory
(End-of-Year Prices)
|
Price
Index
|
|
December 31, 2009
|
$66,900
|
100
|
|
December 31, 2010
|
132,060
|
155
|
|
December 31, 2011
|
141,759
|
171
|
|
December 31, 2012
|
160,185
|
177
|
|
December 31, 2013
|
145,728
|
184
|
Use the dollar-value LIFO method to compute the ending inventory for Choctaw Company for 2009 through 2013.