Posted: December 6th, 2022

Aber company manufactures one product

Aber Company manufactures one product. On December 31, 2011, Aber adopted t he dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $270,000.  Inventory data are as follows:

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Inventory at

Price index

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Year

year-end prices

(base= year 2009)

 

2012

 $378,000

1.05

 

2013

 552,000

1.15

 

2014

 575,000

1.25

Instructions

 

= Compute the inventory at December 31, 2012, 2013, and 2014, using the dollar-value LIFO method for each year.

 

 

 

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