AT&T;? 9:39 PM 86%- CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT ASSIGNMENT

Question

AT&T;? 9:39 PM 86%- CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Brief Exercise 8-8 Graded O8-4 Your answer is partially correct. Try again. 2 Exercise 8-22 2 Exercise 8-23 Teal Company had ending inventory at end-of-year prices of $139,000 at December 31, 2016; $167,692 at December 31, 2017; and $182,782 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 113 at 12/31/17 and 118 at 12/31/18. Compute the ending inventory for Teal Company for 2016 through 2018 using the dollar-value LIFO method. 2016 2017 2018 Review Results by Study Objective Ending Inventory 139000 167692 215682.76 Click if you would like to Show Work for this question: Open Show Work Question Attempts: 4 of 12 used SAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

Year Computation $ 2016 139000 2017 167692/1.13 = 148400 139000*1 139000 (148400-139000)*1.13 10622 149622 2018 182782/1.18 = 154900 139000*1 139000 (148400-139000)*1.13 10622 (154900-148400)*1.18 7670 157292

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