On December 31, 2009, the Current Cost of the Greene

question 59

Essay

On December 31, 2009, the current cost of the Greene Company's ending inventory was $10, 000 when the cost index was 100.On January 1, 2010, Greene adopted the dollar value LIFO method of inventory costing.Information from the company's ending inventory records is as follows:.
$\begin{array}{rll}&&\text { Ending Inventony }\\&\text {Cost}&\text {Reported at}\\\text { Year } &\text { Index } &\text { Dollar-Value LIFO }\\2010 & 110 & \$ 10,000 \\2011 & 125 & 15,500 \\2012 & 140 & 16,340\end{array}$ Required:
Determine the current cost of Greene's ending inventory for the years 2010, 2011, and 2012.

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