Faucci Industries, Inc. uses the dollar-value LIFO method of computing its inventory cost with December 31,...

Faucci Industries, Inc. uses the dollar-value LIFO method of computing its inventory cost with December 31, 2015 representing the base cost. Data for the past five years follows:

Year Ended December 31,	Inventory at FIFO	Index
2015	$ 85,000	100
2016	92,400	105
2017	102,120	111
2018	102,600	114
2019	110,200	116

Required:

Determine the inventory valuation for 2016 through 2019 using the dollar-value LIFO technique.

Expert Solution

ekkarill92 answered 1 year ago

A) Whispering, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past...

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Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2017. Its inventory...

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Ajman Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2017. Its inventory...

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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, 2021, with an inventory of $201,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended Ending Inventory Cost Index December 31 at Year-End Costs (Relative to Base Year) 2021 $ 291,600 1.08 2022 376,420 1.18 2023 355,350 1.15 2024 349,650 1.11...

Lewis Company adopted the dollar-value LIFO method of inventory valuation on 12/31/18. Its inventory at that...

Lewis Company adopted the dollar-value LIFO method of inventory valuation on 12/31/18. Its inventory at that date was $320,000 and the relevant price index was 100. What will Lewis report as inventory at the end of 2019, 2020, 2021, and 2022 using dollar-value LIFO? Date Inv at current price current price index inv at base level price 12/31/19 338,000 104 325,000 12/31/20 371,000 106 350,000 12/31/21 372,600 108 345,000 12/31/22 381,500 109 350,000

On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this...

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On January 1, year 1, Silver Industries Inc. adopted the dollar-value LIFO method of determining inventory...

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1/ On January 1, 2018, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on...

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Rose, Inc. uses the dollar-value LIFO retail inventory method. For years ending 2015-2019 they counted the...

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