Your answer is partially correct. Try again Presented below is information relat
ID: 2402439 • Letter: Y
Question
Your answer is partially correct. Try again Presented below is information related to Ayayai Company. Ending Inventory (End-of-Year Price Date Prices) December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 $77,100 140,238 138,528 155,844 185,808 223,590 Index 100 126 144 156 168 174 Compute the ending inventory for Ayayai Company for 2014 through 2019 using the dollar-value LIFO method Ending Inventory 2014 77,100 2015 202595.85 2016 235399.68 2017 303472.34 2018 419460.88 2019 588935.42Explanation / Answer
Year
Ending inventory
2014
$77100
2015
$120192
2016
$101166
2017
$105828
2018
$119310
2019
$150120
Explanation;
Year
Inventory at the end year prices
Price index
Inventory at base year prices
Change from prior year
2014
$77100
100
$77100
$0
2015
$140238
126
$111300
$34200
2016
$138528
144
$96200
($15100)
2017
$155844
156
$99900
$3700
2018
$185808
168
$110600
$10700
2019
$223590
174
$128500
$17900
Now let’s calculate dollar value inventory;
Year
Calculations
Ending Inventory
2014
$77100 * 1.00
$77100
2015
($77100 * 1.00) + ($34200 * 1.26)
$120192
2016
($77100 * 1.00) + ($19100 * 1.26)
$101166
2017
($77100 * 1.00) + ($22800 * 1.26)
$105828
2018
($77100 * 1.00) + ($33500 * 1.26)
$119310
2019
($77100 * 1.00) + ($34200 * 1.26) + ($17200 * 1.74)
$150120
Year
Ending inventory
2014
$77100
2015
$120192
2016
$101166
2017
$105828
2018
$119310
2019
$150120
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