Compute the value of the 2014 and 2015 inventories using


Arna, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow.

Year Ended
December 31

 

Inventory at
Current-Year Cost

 

Price
Index

2013

 

$20,600

 

100

2014

 

22,896

 

108

2015

 

26,894

 

113

Compute the value of the 2014 and 2015 inventories using the dollar-value LIFO method.

   

2014                            

 

2015

Inventory under LIFO

 

$

 

$

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Accounting Basics: Compute the value of the 2014 and 2015 inventories using
Reference No:- TGS01364955

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