Business, 13.10.2020 03:01 lbabineaux9887

Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2018 with an inventory of $255,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows. Year, Ended December 31 Ending Inventory at Year-End Costs Cost. Index (Relative to Base Year)2018 $319,360 1.032019 406,560 1.122020 384,770 1.092021 372,750 1.05RequiredCalculate inventory amounts at the end of each year.

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Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index i...

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