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Sweet Company cans a variety of vegetable-type soups. Recently, the company decided to value its...

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Accounting

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Sweet Company cans a variety of vegetable-type soups. Recently, the company decided to value its inventories using dollar-value LIFO pools. The clerk who accounts for inventories does not understand how to value the inventory pools using this new method, so, as a private consultant, you have been asked to teach him how this new method works. t Level He has provided you with the following information about purchases made over a 6-year period. Ending Inventory (End-of-Year Prices) tudy Date Price Index 100 110 126 137 147 152 Dec. 31, 2013 $80,000 118,580 117,180 140,699 159,201 187,872 Dec. 31, 2014 Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 You have already explained to him how this inventory method is maintained, but he would feel better about it if you were to leave him detailed instructions explaining how these calculations are done and why he needs to put all inventories at a base-year value Compute the ending inventory for Richardson Company for 2013 through 2018 using dollar-value LIFO Ending Inventory

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