E8-25 (Dollar-Value LIFO) Presented below is information related to Martin Company.
Ending Inventory Price
Date (End-of-Year Prices) Index
December 31, 2007 $ 80,000 100
December 31, 2008 111,300 105
December 31, 2009 108,000 120
December 31, 2010 122,200 130
December 31, 2011 147,000 140
December 31, 2012 176,900 145
Instructions
Compute the ending inventory for Martin Company for 2007 through 2012 using the dollar-value LIFO method.
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