E8-25B (Dollar-Value LIFO) Presented below is information related to Meghani Company.
Ending Inventory Price
Date (End-of-Year Prices) Index
December 31, 2013 $180,000 100
December 31, 2014 220,500 105
December 31, 2015 218,500 115
December 31, 2016 242,500 125
December 31, 2017 283,500 135
December 31, 2018 310,800 140
Instructions
Compute the ending inventory for Meghani Company for 2013 through 2018 using the dollar-value LIFO
method.
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