Homework Answers
| Date | Ending inventory (End-of-year prices) | Price index | Inventory at base year prices | Change from last year | |
| a | a | c=a/b | |||
| December 31,2016 | 66900 | 100% | 66900 | 0 | |
| December 31,2017 | 103194 | 117% | 88200 | 21300 | |
| December 31,2018 | 110940 | 129% | 86000 | -2200 | |
| December 31,2019 | 124887 | 133% | 93900 | 7900 | |
| December 31,2020 | 115787 | 139% | 83300 | -10600 | |
| Ending inventory: | |||||
| $ | |||||
| 2016 | |||||
| 66900*1 | 66900 | ||||
| Cost of ending inventory (Total) | 66900 | ||||
| 2017 | |||||
| 66900*1 | 66900 | ||||
| 21300*117% | 24921 | ||||
| Cost of ending inventory (Total) | 91821 | ||||
| 2018 | |||||
| 66900*1 | 66900 | ||||
| 21300*117% | 24921 | ||||
| .-2200*129% | -2838 | ||||
| Cost of ending inventory (Total) | 88983 | ||||
| 2019 | |||||
| 66900*1 | 66900 | ||||
| 21300*117% | 24921 | ||||
| .-2200*129% | -2838 | ||||
| 7900*133% | 10507 | ||||
| Cost of ending inventory (Total) | 99490 | ||||
| 2020 | |||||
| 66900*1 | 66900 | ||||
| 21300*117% | 24921 | ||||
| .-2200*129% | -2838 | ||||
| 7900*133% | 10507 | ||||
| .-10600*139% | -14734 | ||||
| Cost of ending inventory (Total) | 84756 | ||||
| Ending inventory | |||||
| 2016 | 66900 | ||||
| 2017 | 91821 | ||||
| 2018 | 88983 | ||||
| 2019 | 99490 | ||||
| 2020 | 84756 | ||||
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Exercise 8-23 The following information relates to the Richard Miller Company. Price Index Date Ending Inventory (End-o...
Exercise 8-23 The following information relates to the Richard Miller Company. Price Index Date Ending Inventory...
Exercise 8-23 The following information relates to the Richard Miller Company. Price Index Date Ending Inventory (End-of-Year Prices) $ 66,900 103,194 110,940 124,887 115,787 December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 100 117 Nm w 139 Use the dollar-value LIFO method to compute the ending inventory for Miller Company for 2016 through 2020. Ending Inventory ____ 2016 $ 2017 2018 2019 + $ 2020 +
Exercise 8-23 The following information relates to the James Smith Company. Ending Inventory (End-of-Year Prices) Price...
Exercise 8-23 The following information relates to the James Smith Company. Ending Inventory (End-of-Year Prices) Price Index Date December 31, 2016 75,800 100 December 31, 2017 December 31, 2018 December 31, 2019 95,700 110 103,944 118,314 122 126 December 31, 2020 109,254 131 Use the dollar-value LIFO method to compute the ending inventory for Smith Company for 2016 through 2020. Ending Inventory 2016 $ 75,800 2017 $ 2018 $ 2019 $ 2020 $
The following information relates to the Steven Garcia Company. Ending Inventory Price Date (End-of-Year Prices) Index...
The following information relates to the Steven Garcia Company. Ending Inventory Price Date (End-of-Year Prices) Index December 31, 2016 $68,900 100 December 31, 2017 115,712 128 December 31, 2018 125,386 142 December 31, 2019 139,722 146 December 31, 2020 131,121 153 Use the dollar-value LIFO method to compute the ending inventory for Garcia Company for 2016 through 2020. Ending Inventory 2016 2017 2018 $ $ $ 2019 to 2020 to
The following information relates to the Jimmy Johnson Company. Ending Inventory Price Date (End-of-Year Prices) Index...
The following information relates to the Jimmy Johnson Company. Ending Inventory Price Date (End-of-Year Prices) Index December 31, 2016 $70,000 100 December 31, 2017 90,300 105 December 31, 2018 95.120 116 December 31, 2019 105,600 120 December 31, 2020 100,000 125 Use the dollar-value LIFO method to compute the ending inventory for Johnson Company for 2016 through 2020. Ending Inventory 2016 $ 2017 $ 2018 2019 2020
The following information relates to the Jimmy Johnson Company. Date Ending Inventory (End-of-Year Prices) Price Index...
The following information relates to the Jimmy Johnson Company. Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2016 $ 70,000 100 December 31, 2017 90,300 105 December 31, 2018 95,120 116 December 31, 2019 105,600 120 December 31, 2020 100,000 125 Use the dollar-value LIFO method to compute the ending inventory for Johnson Company for 2016 through 2020. Ending Inventory 2016 $ 2017 $ 2018 $ 2019 $ 2020 $
The following information relates to the Kevin Hall Company. Date Ending Inventory (End-of-Year Prices) Price Index...
The following information relates to the Kevin Hall Company. Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2016 $ 63,200 100 December 31, 2017 120,384 132 December 31, 2018 129,940 146 December 31, 2019 145,262 151 December 31, 2020 136,512 158 Use the dollar-value LIFO method to compute the ending inventory for Hall Company for 2016 through 2020.
The following information relates to the George Robinson Company. Date December 31, 2016 December 31, 2017...
The following information relates to the George Robinson Company. Date December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 Ending Inventory (End-of-Year Prices) $ 71,500 113,400 122,181 139,104 130,800 Price Index 100 126 139 144 150 Use the dollar-value LIFO method to compute the ending inventory for Robinson Company for 2016 through 2020. Ending Inventory 2016 2017 2018 2019
Practice Exercise 8-04 Presented below is information related to Larkspur, Inc. Price Index Date End-of-Year Inventory...
Practice Exercise 8-04 Presented below is information related to Larkspur, Inc. Price Index Date End-of-Year Inventory (End-of-Year Prices) $1,230,000 1,554,000 1,562,000 1,848,600 100 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 105 110 117 Compute the ending inventory for Larkspur, Inc. for 2017 through 2020 using the dollar-value LIFO method. Ending Inventory 2017 $ 1230000 2018 $ 2019 $ 2020 $
The following information relates to the Tamarisk Company. Ending Inventory Price (End-of-Year Prices) Index Date December...
The following information relates to the Tamarisk Company. Ending Inventory Price (End-of-Year Prices) Index Date December 31, 2013 December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 $ 66,100 119,210 129,050 145,200 134,316 100 131 145 150 156 Use the dollar-value LIFO method to compute the ending inventory for Tamarisk Company for 2013 through 2017
Presented below is information related to Bonita Company. Ending Inventory (End-of-Year Prices) Date Price Index $...
Presented below is information related to Bonita Company. Ending Inventory (End-of-Year Prices) Date Price Index $ 78,300 100 169,936 169,128 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 December 31, 2022 191,457 226,345 269.220 Compute the ending inventory for Bonita Company for 2017 through 2022 using the dollar-value LIFO method. Compute the ending inventory for Bonita Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $ 2018 $ 2019...
Exercise 8-23 The following information relates to the Richard Miller Company. Price Index Date Ending Inventory (End-of-Year Prices) $ 66,900 103,194 110,940 124,887 115,787 December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 100 117 Nm w 139 Use the dollar-value LIFO method to compute the ending inventory for Miller Company for 2016 through 2020. Ending Inventory ____ 2016 $ 2017 2018 2019 + $ 2020 +
Exercise 8-23 The following information relates to the James Smith Company. Ending Inventory (End-of-Year Prices) Price Index Date December 31, 2016 75,800 100 December 31, 2017 December 31, 2018 December 31, 2019 95,700 110 103,944 118,314 122 126 December 31, 2020 109,254 131 Use the dollar-value LIFO method to compute the ending inventory for Smith Company for 2016 through 2020. Ending Inventory 2016 $ 75,800 2017 $ 2018 $ 2019 $ 2020 $
The following information relates to the Steven Garcia Company. Ending Inventory Price Date (End-of-Year Prices) Index December 31, 2016 $68,900 100 December 31, 2017 115,712 128 December 31, 2018 125,386 142 December 31, 2019 139,722 146 December 31, 2020 131,121 153 Use the dollar-value LIFO method to compute the ending inventory for Garcia Company for 2016 through 2020. Ending Inventory 2016 2017 2018 $ $ $ 2019 to 2020 to
The following information relates to the Jimmy Johnson Company. Ending Inventory Price Date (End-of-Year Prices) Index December 31, 2016 $70,000 100 December 31, 2017 90,300 105 December 31, 2018 95.120 116 December 31, 2019 105,600 120 December 31, 2020 100,000 125 Use the dollar-value LIFO method to compute the ending inventory for Johnson Company for 2016 through 2020. Ending Inventory 2016 $ 2017 $ 2018 2019 2020
The following information relates to the George Robinson Company. Date December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 Ending Inventory (End-of-Year Prices) $ 71,500 113,400 122,181 139,104 130,800 Price Index 100 126 139 144 150 Use the dollar-value LIFO method to compute the ending inventory for Robinson Company for 2016 through 2020. Ending Inventory 2016 2017 2018 2019
Practice Exercise 8-04 Presented below is information related to Larkspur, Inc. Price Index Date End-of-Year Inventory (End-of-Year Prices) $1,230,000 1,554,000 1,562,000 1,848,600 100 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 105 110 117 Compute the ending inventory for Larkspur, Inc. for 2017 through 2020 using the dollar-value LIFO method. Ending Inventory 2017 $ 1230000 2018 $ 2019 $ 2020 $
The following information relates to the Tamarisk Company. Ending Inventory Price (End-of-Year Prices) Index Date December 31, 2013 December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 $ 66,100 119,210 129,050 145,200 134,316 100 131 145 150 156 Use the dollar-value LIFO method to compute the ending inventory for Tamarisk Company for 2013 through 2017
Presented below is information related to Bonita Company. Ending Inventory (End-of-Year Prices) Date Price Index $ 78,300 100 169,936 169,128 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 December 31, 2022 191,457 226,345 269.220 Compute the ending inventory for Bonita Company for 2017 through 2022 using the dollar-value LIFO method. Compute the ending inventory for Bonita Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $ 2018 $ 2019...
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