Business, 15.07.2020 05:01 sosa71

On January 1, 2016, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $300,000. An internally generated cost index is used to convert ending inventory to base year. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended December 31 Inventory Year-End Costs Cost Index (Relative to Base Year)
2016 $392,080 1.04
2017 $403,920 1.08
2018 458,890 1.09
2019 492,240 1.12
Required:
Calculate inventory amounts at the end of each year.
Date Ending Inventory
12/31/16
12/31/17
12/31/18
12/31/19

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On January 1, 2016, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory va...

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