The company initially began using dollar value LIFO in Year 3. Chronological transactions were: Product X...

 

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The company initially began using dollar value LIFO in Year 3. Chronological transactions were: Product X Product Y Year 3 Beginning Inventory Purchase Sale Purchase Sale Ending Inventory Year 4 Purchase Sale Purchase Sale Ending Inventory Year 5 Purchase Sale Purchase Sale Purchase Ending Inventory Year 6 Purchase Sale Purchase Sale Ending Inventory Units 30 60 70 50 33 37 850 FRA BAN 76 20 62 Unit Cost $9.00 9.50 9.80 10.00 10.40 10.50 10.70 10.80 11.00 10.25 Units zada 15 19 40 35 6 28 12 10 60 31 Unit Cost $7.50 7.60 7.70 7.80 7.90 8.00 8.10 8.05 8.20 8.30 INSTRUCTIONS: A. Calculate the value of the ending inventory for year 3, then year 4, then year 5, then year 6 for each product (calculate product X by itself and then calculate product Y by itself) assuming your company was using dollar value LIFO without using a published index. B. Calculate the value of the ending inventory for year 3, then year 4, then year 5, then year 6 for the two products combined into one pool assuming your company was using dollar value LIFO without using a published index. The company initially began using dollar value LIFO in Year 3. Chronological transactions were: Product X Product Y Year 3 Beginning Inventory Purchase Sale Purchase Sale Ending Inventory Year 4 Purchase Sale Purchase Sale Ending Inventory Year 5 Purchase Sale Purchase Sale Purchase Ending Inventory Year 6 Purchase Sale Purchase Sale Ending Inventory Units 30 60 70 50 33 37 850 FRA BAN 76 20 62 Unit Cost $9.00 9.50 9.80 10.00 10.40 10.50 10.70 10.80 11.00 10.25 Units zada 15 19 40 35 6 28 12 10 60 31 Unit Cost $7.50 7.60 7.70 7.80 7.90 8.00 8.10 8.05 8.20 8.30 INSTRUCTIONS: A. Calculate the value of the ending inventory for year 3, then year 4, then year 5, then year 6 for each product (calculate product X by itself and then calculate product Y by itself) assuming your company was using dollar value LIFO without using a published index. B. Calculate the value of the ending inventory for year 3, then year 4, then year 5, then year 6 for the two products combined into one pool assuming your company was using dollar value LIFO without using a published index.

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A INDIVIDUAL PRODUCT BASIS product X product Y units cost total cost units cost total cost Year 3 Be... View the full answer