Verizon 9:38 PM * 51% edugen.wileyplus.com C Kieso, Intermediate Accounting, 16e
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Verizon 9:38 PM * 51% edugen.wileyplus.com C Kieso, Intermediate Accounting, 16e Intermediate Accoun ORION Downloadable eTextbook FULL SCREEN (End-of-Year December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 December 31. 2019 82,100 241,964 241 283,785 268 Compute the ending inventory for Windsor Company for 2014 through 2019 using the dollan-value LIFO method. Ending Inventory 2015 2017 2018 Click if you weuld like to Show Werk for this question: Open Show Work All Rights Reserved. A Division of jh y &Sons; InsExplanation / Answer
Solution: Ending Inventory 2014 82,100 2015 141,270 2016 110,036 2017 119,435 2018 148,184 2019 190,260 Working Notes: Current $ (a) Price Index (b) Base Year $ (a/b) Change from Prior Year 2014 82,100 1.00 82,100 0 2015 218,444 1.94 112,600 30,500 2016 214,230 2.22 96,500 -16,100 2017 241,964 2.41 100,400 3,900 2018 288,785 2.59 111,500 11,100 2019 340,896 2.68 127,200 15,700 Ending Inventory—Dollar-value LIFO: 2014 $82,100 $82,100 2015 $82,100 x 1.00 82,100 30,500 x 1.94 59,170 141,270 2016 $82,100 x 1.00 82,100 (30,500 - 16,100) x 1.94 27,936 110,036 2017 $82,100 x 1.00 82,100 (30,500 - 16,100) x 1.94 27,936 3,900 x 2.41 9399 119,435 2018 $82,100 x 1.00 82,100 (30,500 - 16,100) x 1.94 27,936 3,900 x 2.41 9399 11,100 x 2.59 28749 148,184 2019 $82,100 x 1.00 82,100 (30,500 - 16,100) x 1.94 27,936 3,900 x 2.41 9399 11,100 x 2.59 28749 15,700 x 2.68 42076 190,260 Please feel free to ask if anything about above solution in comment section of the question.
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