Dalton Sporting Goods adopted the dollar-value LIFO method for inventory valuation in 2016. Use the...
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Dalton Sporting Goods adopted the dollar-value LIFO method for inventory valuation in 2016. Use the information below to determine the cumulative cost of the ending inventory at December 31, 2019 under dollar-value LIFO (in other words, what would be the inventory balance on Daltons Balance Sheet at 12.31.19). Inventory at Current Date Current Prices Price Index December 31, 2016 $150,000 100 December 31, 2017 $189,000 105 December 31, 2018 270,000 120 December 31, 2019 260,000 130
What is the cumulative ending inventory balance at 12.31.19? $______________________
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