Question
36.Mallie Co. uses the dollar-value LIFO inventory method. Inventory of January 1, 2018 was $100,000 at base year prices. Inventory on December 31, 2018 was
36.Mallie Co. uses the dollar-value LIFO inventory method. Inventory of January 1, 2018 was $100,000 at base year prices. Inventory on December 31, 2018 was $160,000 at base year prices and was $200,000 at actual prices. What is the value of Mallie Co.'s ending inventory?
a.$160,000
b.$175,000
c.$200,000
d.$275,000
e.none of these
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Managerial Accounting
Authors: Susan V. Crosson, Belverd E. Needles
11th Edition
0538742801, 978-0538742801
