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Stores Limited adopted the

$$

$$dollar

$-$

value LIFO inventory method using

$2$

$0$

$2$

$1$

$$as the base year. The cumulative price index for

$2$

$0$

$2$

$2$

$$through

$2$

$0$

$2$

$5$

$$was

$1$

$.$

$0$

$2$

$$

$,$

$1$

$.$

$0$

$4$

$$

$,$

$1$

$.$

$0$

$5$

$$and

$1$

$.$

$0$

$6$

$$

$,$

$$respectively$.$ Ending inventory according to Rita

$$

$\text{'}$

s Toy

$$

$$Stores$\text{'}$ trial

$$

$$balance$,$ using

$$

$$FIFO$,$ is presented in the following

$$

$$table: Year Ending Inventory per the Trial Balance

$2$

$0$

$2$

$1$

$$$

$8$

$3$

$0$

$,$

$0$

$0$

$0$

$2$

$0$

$2$

$2$

$9$

$4$

$0$

$,$

$0$

$0$

$0$

$2$

$0$

$2$

$3$

$1$

$,$

$3$

$8$

$0$

$,$

$0$

$0$

$0$

$2$

$0$

$2$

$4$

$1$

$,$

$2$

$2$

$0$

$,$

$0$

$0$

$0$

$2$

$0$

$2$

$5$

$1$

$,$

$3$

$1$

$0$

$,$

$0$

$0$

$0$

$$ Requirement a

$.$

$$Compute stores ending inventory under the

$$

$$dollar

$-$

value LIFO method for the years

$2$

$0$

$2$

$1$

$$through

$2$

$0$

$2$

$5$

$.$

$$

$($

Use price index amounts to two decimal

$$

$$places$,$ X

$.$

XX

$.$

$$Round all intermediary currency calculations and the amounts you enter into the cells below to the nearest whole

$$

$$dollar$.$

$)$

$$Year

$2$

$0$

$2$

$1$

$2$

$0$

$2$

$2$

$2$

$0$

$2$

$3$

$2$

$0$

$2$

$4$

$2$

$0$

$2$

$5$

$2$

$0$

$2$

$1$

$$layer

$2$

$0$

$2$

$2$

$$layer

$2$

$0$

$2$

$3$

$$layer

$2$

$0$

$2$

$4$

$$layer

$2$

$0$

$2$

$5$

$$layer Ending inventory under dollar

$-$

value LIFO Part

$2$

$$Requirement b

$.$

$$Prepare the journal entries for

$2$

$0$

$2$

$2$

$$through

$2$

$0$

$2$

$5$

$$to adjust inventory to the

$$

$$dollar

$-$

value LIFO basis.

$$

$($

Record debits

$$

$$first$,$ then credits. Exclude explanations from any journal entries. Round all intermediary currency calculations and the amounts you enter into the cells below to the nearest whole

$$

$$dollar$.$

$)$

$$ Begin with the adjusting entry for

$2$

$0$

$2$

$2$

$.$

$$Account

$2$

$0$

$2$

$2$

$$Year

$-$

end Part

$3$

$$Prepare the adjusting entry for

$2$

$0$

$2$

$3$

$.$

$$Account

$2$

$0$

$2$

$3$

$$Year

$-$

end Part

$4$

$$Prepare the adjusting entry for

$2$

$0$

$2$

$4$

$.$

$$Account

$2$

$0$

$2$

$4$

$$Year

$-$

end Part

$5$

$$Prepare the adjusting entry for

$2$

$0$

$2$

$5$

$.$

$$Account

$2$

$0$

$2$

$5$

$$Year

$-$

end Part

$6$

$$Requirement c

$.$

$$Determine the ending balance of the LIFO reserve for

$2$

$0$

$2$

$2$

$$through

$2$

$0$

$2$

$5$

$.$

$$

$($

Enter a

$$

$"$

$0$

$"$

$$for any zero balance of the LIFO

$$

$$reserve$.$

$)$

$$LIFO Reserve $\backslash$table$[[$Year$,2021,2022,2023,2024,2025],[2021$ layer,,,,,$],[2022$ layer,,,,,$],[2023$ layer,,,,,$],[2024$ layer,,,,,$],[2025$ layer,,,,,$],[$Ending inventory under dollar$-$value LIFO,,,,,$]]$ where should i plug the figures into$>$

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