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LIFO and FIFO are so confusing for me. Use the dollar-value LIFO method to compute the ending inventory for Ivanhoe Company for 2013 through 2017.

LIFO and FIFO are so confusing for me...Please help!


Use the dollar-value LIFO method to compute the ending inventory for Ivanhoe Company for 2013 through 2017.


December 31, 2013 Ending Inventory (End of Year Prices) $75,600 Price Index 100

December 31, 2014  Ending Inventory (End of Year Prices) $121,562   Price Index 133

December 31, 2015  Ending Inventory (End of Year Prices) $131,565   Price Index 147

December 31, 2016  Ending Inventory (End of Year Prices) $149,112  Price Index 152

December 31, 2017  Ending Inventory (End of Year Prices) $141,351   Price Index 159


Ending Inventory

2013

2014

2015

2016

2017

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