E8-25 Dollar-Value LIFO
Presented below is information related to Choctaw Company.
| Date | Ending Inventory (End-of-Year Prices) | Price Index |
| 31-Dec-07 | 70,000 | 100 |
| 31-Dec-08 | 88,200 | 105 |
| 31-Dec-09 | 95,120 | 116 |
| 31-Dec-10 | 108,000 | 120 |
| 31-Dec-11 | 100,000 | 125 |
Instructions
Compute the ending inventory for Choctaw Company for 2007 through 2011 using the dollar-value LIFO method.
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