The following information relates to the Matthew Young Company. Date Ending Inventory (End-of-Year Prices) Price Index
December 31, 2016 $68,400 100
December 31, 2017 122,744 134
December 31, 2018 132,904 148
December 31, 2019 150,920 154
December 31, 2020 141,920 160
Use the dollar-value LIFO method to compute the ending inventory for Young Company for 2016 through 2020.
Ending Inventory
2016 $
2017 $
2018 $
2019 $
2020 $

year 2016   $  68,400

year 2017   $   99,488

year 2018   $   97,076

year 2019   $ 109,704

year 2020  $  95,602

Explanation:

2016: year-base the nominal is the same as the ending

2017:

122,744 x 100/134 = 91,600

second layer:

91,600 - 68,400 = 23,200

ending inventory

base layer              68,400

23,200 x 134/100 = 31,088

total                       99,488

2018:

132,904 /1.48 = 89,800

89,800 - 68,400 = 21.400

21,400 x 1.34 = 28,676

68,400 + 28,676 = 97,076

2019:

150,920 / 1.54 = 98,000

98,000 - 68,400 = 29,600

29,600 - 21,400 = 8,200

Layers

68,400 x 100/100 =  68,400

21,400 x 134/100 =  28,676

 8,200 x 154/100 =  12,628

Ending Inv              109,704

2020:

141,920 / 1.60 = 88,700

88,700 - 68,400 = 20,300

Layers:

68,400 x 100/100 = 68,400

20,300 x 134/100 = 27,202

Ending Inventory      95,602

answer; slide sorter view;

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number