Question

On January 1, 2011, the Haskins Company adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was $660,000. The 2011 and 2012 ending inventory valued at year-end costs were $690,000 and $760,000, respectively. The appropriate cost indexes are 1.04 for 2011 and 1.08 for 2012.

Required:
Calculate the inventory value at the end of 2011 and 2012 using the dollar-value LIFO method.



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  • CreatedJuly 02, 2013
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