st. AT&T;? 9:38 PM 86% CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise

Question

st. AT&T;? 9:38 PM 86% CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 8-23 Graded 08-4 Your answer is partially correct. Try again. Exercise 8-22 The following information relates to the Bridgeport Company Ending Inventory (End-of-Year Price Date Prices) December 31, 2013 December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 $63,200 120,384 129,940 145,262 136,512 Index 100 132 146 151 158 Review Results by Study Objective Use the dollar-value LIFO method to compute the ending inventory for Bridgeport Company for 2013 through 2017 Ending Inventory 2013 63200 2014 158906,88 2015 2016 2017 Click if you would like to Show Work for this question: Open Show Work

Explanation / Answer

Year End. Inventory Index Inv. With base prices Change 2013 63200 100 63200 - 2014 120384 132 91200 28000 2015 129940 146 89000 -2200 2016 145262 151 96200 7200 2017 136512 158 86400 -9,800 Inventory valuation (LIFO) 2013 63,200 2014 Inventory of $ 63200 @$1 63,200 Inventory of 28000 @ 1.32 36,960 100,160 2015 Inventory of $63200@1 63200 Inventory of 25800@ 1.32 34,056 97256 2016 Inventory of $ 63200 @1 63200 Inventory of 25800 @ 1.32 34056 Inventory of 7200@1.51 10872 108,128 2017 Inventory of $ 63200 @$1 63200 Inventory of $ 23200@$1.32 30624 93824

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