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Category > Economics Posted 15 May 2017 My Price 15.00

Dollar-Value LIFO A company adopted the LIFO method

 

E8-11 Dollar-Value LIFO A company adopted the LIFO method when its inventory was $1,800. One year later its ending inventory was $2,100 and costs had increased 5% during the year.

Required

What is the ending inventory using dollar-value LIFO?

E8-12 Dollar-Value LIFO On January 1, 2006 the Sato Company adopted the dollar-value LIFO method of inventory cost- ing. The company’s ending inventory records appear as follows:

Year

Current Cost

Index

2006

$40,000

100

2007

56,100

120

2008

58,500

130

2009

70,000

140

Required

    

Compute the ending inventory for the years 2006, 2007, 2008, and 2009, using the dollar-value LIFO method (round to the nearest dollar).

 

 

 

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 15 May 2017 04:05 PM My Price 15.00

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Attachments

file 1494866772-1787786_1_636300963957602123_Dollar-LIFO-end-inventory.xlsx preview (190 words )
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