The following information is from Durden Company currently using FIFO: Year ended Ending inventory Price index at year-end prices 2019 $ 80,000 1.0 2020 $ 85,000 1.2 2021 $120,000 1.3 What is the dollar value LIFO for the end of year 2021? $98,751 $103,000 $94,500 $92,308
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- Use the following information relating to Clover Company to calculate the inventory turnover ratio, gross margin, and the number of days sales in inventory ratio, for years 2022 and 2023.The following information relates to the Brian Lee Company. Date Date Ending Inventory (End-of-Year Prices) price index December 31, 2021 65600 100 December 31, 2022 118040 130 December 31, 2023 127728 December 31, 2024 143636 December 31, 2025 133765 Use the dollar-value LIFO method to compute the ending inventory for Lee Company for 2021 through 2025. 144 149 155Presented below is information related to Bonita Company. Price Index Date December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 2022 2023 2024 2025 2026 2027 $ $ Ending Inventory (End-of-Year Prices) $ $78,300 115,154 114,696 Compute the ending inventory for Bonita Company for 2022 through 2027 using the dollar-value LIFO method. 128,651 152,755 182,044 Ending Inventory 78300 112805 112800 118012 131986 100 155700 103 118 127 137 142
- Company P has the following inventory information: Date December 31, 2021 December 31, 2022 A. $89,684 Ending Inventory (End-of-Year Prices) O B. $112,884 O C. $99,684 O D. $109,884 $ 85,600 99,100 Price Index 100 Use the dollar-value LIFO method to compute the ending inventory for 2022. 111The following information relates to the George Robinson Company. Ending Inventory Price Date (End-of-Year Prices) Index December 31, 2021 $71,500 100 December 31, 2022 113,400 126 December 31, 2023 122,181 139 December 31, 2024 139,104 144 December 31, 2025 130,800 150 Use the dollar-value LIFO method to compute the ending inventory for Robinson Company for 2021 through 2025. Ending Inventory 2021 $ 2022 2023 2024 2025 71,500 +A $ 113,400 +A +A +A 125,100 139,104 144,900The following information relates to the David Davis Company. Price Ending Inventory (End-of-Year Prices) Date Index December 31, 2016 $69,400 100 December 31, 2017 102,080 116 December 31, 2018 110,208 128 December 31, 2019 123,816 132 December 31, 2020 116,058 138 Use the dollar-value LIFO method to compute the ending inventory for Davis Company for 2016 through 2020. Ending Inventory 2016 %24 2017 %24 2018 %24 2019 %24 2020 %24
- 2. Date The following information relates to the Windsor Company. Ending Inventory Price (End-of-Year Prices) Index December 31, 2023 $ 60,500 100 December 31, 2024 78,000 103 December 31, 2025 90,400 106 December 31, 2026 99,750 108 December 31, 2027 115,680 111 Use the dollar-value LIFO method to compute the ending inventory for Windsor Company for 2023 through 2027.Presented below is information related to Skysong Company. December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 2022 2023 2024 2025 Date 2026 2027 $ +A Compute the ending inventory for Skysong Company for 2022 through 2027 using the dollar-value LIFO method. $ EA tA +A Ending Inventory (End-of-Year Prices) +A $87,400 119,305 116,388 132,601 157,157 186,480 Ending Inventory 87400 113187 93545 99264 113850 Price Index 100 107 137678 122 133 143 148ending inventory price date end of year prices index dec 31 2016 69400 100 dec 31 2017 102080 116 dec 31 2018 110208 128 dec 31 2019 123816 132 dec 31 2020 116058 138 Using the dollar-value LIFO method, compute the ending inentory for 2020
- Presented below is information related to Blossom Company. December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 2022 2023 2024 2025 Date 2026 2027 $ $ $ $ $ Ending Inventory (End-of-Year Prices) $ $73,000 116,596 Compute the ending inventory for Blossom Company for 2022 through 2027 using the dollar-value LIFO method. 113,988 127,889 153,303 185,026 Ending Inventory 73000 113200 96600 100700 111900 Price Index 130300 100 103 118 127 137 142Ending Inventory Price Date (End-of-Year Prices) Index December 31, 2022 $181,000 100 December 31, 2023 254,760 120 December 31, 2024 258,463 131 December 31, 2025 287,716 143 December 31, 2026 328,174 154 December 31, 2027 369,920 160 Compute the ending inventory for Bramble Company for 2022 through 2027 using the dollar-value LIFO method. Ending Inventory 2022 $ +A 2023 EA $ 2024 2025 2026 A +A $ 2027 $ +AOasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Oasis' records. Date PriceIndex Ending Inventory at Base Prices Ending Inventoryat Dollar-Value LIFO December 31, 2020 105 $92,000 $92,600 December 31, 2021 ? 97,000 98,350 Instructions Calculate the index used for 2021 that yielded the above results.