question carswell electronics adopted the dollar value lifo method onjanuary 1 2016 4285513

Question

Carswell Electronics adopted the dollar-value LIFO method onJanuary 1, 2016, when the inventory value of its one inventory poolwas $870,000. The company decided to use an external index, theConsumer Price Index (CPI), to adjust for changes in the costlevel. On January 1, 2016, the CPI was 230. On December 31, 2016,inventory valued at year-end cost was $1,045,000 and the CPI was253. Required: Calculate the inventory value at the end of 2016using the dollar-value LIFO method.

	Inventory Layers Converted toBase Year Cost				Inventory Layers Converted toCost			Ending Inventory DVL Cost
Date	Inventory at Year-End Cost	Year-End Cost Index	Inventory Layers at Bse Year Cost		Inventory Layers at Base Year Cost	Year End Cost Index	Inventory Layers Converted to Cost
1/1/2016	?	?	?	Base	?	?	?	?
12/31/2016	?	?	?	Base	?	?	?	?
				2016	?	?	?	?

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question carswell electronics adopted the dollar value lifo method onjanuary 1 2016 4285513

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