Solution-Discuss compute brocks lifo inventory layers

Discuss compute brocks lifo inventory layers

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Reference no: EM131779770

Dock Inc. adopted the dollar-value LIFO inventory method as of January 1, 2015. A single inventory pool and an internally computed price index are used to compute Brock's LIFO inventory layers. Information about Dock's dollar value inventory follows:

Inventory
Date	At base cost Year cost	At current Year cost	At dollar Value LIFO
1/1/2015	$60,000	$ 60,000	$60,000
20154 layer	7,500	21,000	9,000
12/31/2015	67,500	81,000	69,000
2016 layer	22,500	39,000	?
12/31/2016	$90,000	$120,000	?

Required: What is Dock's dollar value LIFO inventory at December 31, 2016?

Reference no: EM131779770

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Discuss compute brocks lifo inventory layers

Reference no: EM131779770

Reference no: EM131779770

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