The document provides ending inventory amounts at end-of-year prices and price indexes for Jimmy Johnson Company from 2010 to 2014. It asks to use the dollar-value LIFO method to calculate the ending inventory for each year, with the solutions being: 2010=$62,000; 2011=$89,300; 2012=$86,900; 2013=$95,500; 2014=$84,800.
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
The following information relates to the Jimmy Johnson Company- Date E.docx
1. The following information relates to the Jimmy Johnson Company.
Date
Ending Inventory
(End-of-Year Prices)
Price
Index
Use the dollar-value LIFO method to compute the ending inventory for Johnson Company for
2010 through 2014.
Date
Ending Inventory
(End-of-Year Prices)
Price
Inde
x
December 31, 2010 $ 60,200 100
December 31, 2011 105,374 118
December 31, 2012 112,970 130
December 31, 2013 128,925 135
December 31, 2014 118,720 140
The following information relates to the Jimmy Johnson Company. Use the dollar-value LIFO
method to compute the ending inventory for Johnson Company for 2010 through 2014.
Solution
2010= 62,00
2011= 89,300
2012= 86,900
2013= 95,500