Question

The following information relates to the Martinez Company.

Date

Ending Inventory

(End-of-Year Prices)

Price

Index

Use the dollar-value LIFO method to compute the ending inventory for Martinez Company for 2013 through 2017. please show work

Date

 

Ending Inventory

(End-of-Year Prices)

 

Price

Index

December 31, 2013

 

 

$ 68,900

 

 

100

December 31, 2014

 

 

115,712

 

 

128

December 31, 2015

 

 

125,386

 

 

142

December 31, 2016

 

 

139,722

 

 

146

December 31, 2017

 

 

131,121

 

 

153

             

 

 

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