Presented below is information related to Dino Radja Company. Date Ending Invent

Question

Presented below is information related to Dino Radja Company.

Date

Ending Inventory
(End-of-Year Prices)

Price
Index

Compute the ending inventory for Dino Radja Company for 2011 through 2016 using the dollar-value LIFO method.

Ending Inventory for:

2011=$?

2012=$?

2013=$?

2014=$?

2015=$?

2016=$?

Please Provide Work or Explanation.

Date

Ending Inventory
(End-of-Year Prices)

Price
Index

December 31, 2011 $ 64,200 100 December 31, 2012 161,560 140 December 31, 2013 160,034 161 December 31, 2014 182,526 174 December 31, 2015 216,920 187 December 31, 2016 258,020 194

Explanation / Answer

Date Ending Inventory Price End of Inventory (End-of-Year Prices) Index Base year prices A B C=A/B X 100 31-Dec-11 $64,200 100 64200 31-Dec-12 161,560 140 115400 31-Dec-13 160,034 161 99400 31-Dec-14 182,526 174 104900 31-Dec-15 216,920 187 116000 31-Dec-16 258,020 194 133000 Calculation of Ending Inventory using dollar-Value LIFO Method: Date End of Inventory Layers at Price Ending Inventory Base year prices Base Year Prices Index at Dollar Value LIFO Metod 31-Dec-11 $64,200 2011 64200 100 $64,200 31-Dec-12 115400 2011 64200 100 64200 2012 51200 140 71680 115400 135880 31-Dec-13 99400 2011 64200 100 64200 2012 35200 140 49280 99400 113480 31-Dec-14 104900 2011 64200 100 64200 2012 35200 140 49280 2014 5500 174 9570 104900 123050 31-Dec-15 116000 2011 64200 100 64200 2012 35200 140 49280 2014 5500 174 9570 2015 11100 187 20757 116000 143807 31-Dec-16 133000 2011 64200 100 64200 2012 35200 140 49280 2014 5500 174 9570 2015 11100 187 20757 2016 17000 194 32980 133000 176787

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