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At the beginning of 2024, a company adopted the dollar-value LIFO (DVL) inventory method.
On that date the value of its one inventory pool was $95,000. The company uses an internally
generated cost index to convert ending inventory to base year.
Required:
Determine the missing amounts in the inventory data for 2024 through 2027.
Note: Round cost index to 2 decimal places.
Year Ended
December 31
Ending Inventory at
Year-End Costs
Ending Inventory at
Base-Year Costs
Cost
Index
Inventory at
DVL Cost
2024 $114,480 $108,000 1.06 ?
2025 $157,550 ? 1.15 ?
2026 $172,560 $143,800 ? ?
2027 ? ? 1.25 $154,665

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At the beginning of 2024- a company adopted the dollar-value LIFO (DVL.pdf

  • 1. At the beginning of 2024, a company adopted the dollar-value LIFO (DVL) inventory method. On that date the value of its one inventory pool was $95,000. The company uses an internally generated cost index to convert ending inventory to base year. Required: Determine the missing amounts in the inventory data for 2024 through 2027. Note: Round cost index to 2 decimal places. Year Ended December 31 Ending Inventory at Year-End Costs Ending Inventory at Base-Year Costs Cost Index Inventory at DVL Cost 2024 $114,480 $108,000 1.06 ? 2025 $157,550 ? 1.15 ? 2026 $172,560 $143,800 ? ? 2027 ? ? 1.25 $154,665