On December 31, 2018, Judd Company adopted the dollar-value LIFO inventory method. The inventory on that date

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On December 31, 2018, Judd Company adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method is $270. The current cost ending inventory balances for 2019, 2020, and 2021 are $378, $402.5, and $575, respectively. The inflation rate from 2018 to 2019 is 5%, from 2019 to 2020 is 15%, and from 2020 to 2021 is 25%.

REQUIRED: Fill in the blanks below on the inventory layers valued using Dollar Value LIFO approach at the end of 2021. Do NOT leave any year blank.

2018 layer in 2021 ending inventory is ___________

2019 layer in 2021 ending inventory is ______________

2020 layer in 2021 ending inventory is ______________

2021 layer in 2021 ending inventory is______________

Posted Date: Dec 10, 2021 03:50 PM

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On December 31, 2018, Judd Company adopted the dollar-value LIFO inventory method. The inventory on that date

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