Based on E$8-25$B $($Dollar$-$Value LIFO$)$

Presented below is information related to Meghani Company.

Date

Ending Inventory $($End$-$of$-$Year Prices$)$

Price Index

December $31,2013$

$$180,000$

$100$

December $31,2014$

$220,500$

$105$

December $31,2015$

$202,000$

$115$

December $31,2016$

$242,500$

$125$

December $31,2017$

$283,500$

$135$

December $31,2018$

$310,800$

$140$

Instructions

a$)$ Compute the ending inventory for Meghani Company for $2013$ through $2018$ using the dollar$-$value LIFO method.

b$)$

Present your calculations in tabular format.

Prepare the journal entry to record the adjustment to the LIFO Reserve account for $12/31/2014.$

d$)$

Prepare the journal entry to record the adjustment to the LIFO Reserve account for $12/31/2015.$ Based on E$8-25$B $($Dollar$-$Value LIFO$)$

Presented below is information related to Meghani Company.

Instructions

a$)$ Compute the ending inventory for Meghani Company for $2013$ through $2018$ using the dollarvalue LIFO method.

b$)$ Present your calculations in tabular format.

c$)$ Prepare the journal entry to record the adjustment to the LIFO Reserve account for $12/31/2014.$

d$)$ Prepare the journal entry to record the adjustment to the LIFO Reserve account for $12/31/2015.$