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nment Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Ended Decembe
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Computation of the Value of 2017 & 2018 inventories under LIFO
year inventory cost index price inventory price Change from prior period
2016 20100 100 20100 20100*100/100 0
2017 22048 106 20800 22048*100/106 700
2018 25648 112 22900 25648*100/112 2100
2017 20100 100% 20100
700 106% 742
Inventory Under LIFO in 2017 20842
2018 20100 100% 20100
700 106% 742
2100 112% 2352
Inventory under LIFO in 2018 23194
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