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5-8 please b-4 doesnt need to be present. thanks for wasting a question of mine. BE8.5 (LO 3) Data for Amsterdam Company are presented in
5-8 please
b-4 doesnt need to be present. thanks for wasting a question of mine.
BE8.5 (LO 3) Data for Amsterdam Company are presented in BE8.4. Compute the April 30 inventory and the April cost of goods sold using the FIFO method. BE8.6 (LO 3) Data for Amsterdam Company are presented in BE8.4. Compute the April 30 inventory and the April cost of goods sold using the LIFO method. BE8.7 (LO 4) Trout Company uses the LIFO method for financial reporting purposes but FIFO for internal reporting purposes. At January 1, 2020, the LIFO reserve has a credit balance of $1,300,000. At December 31, 2020, Trout's internal reports indicated that the FIFO inventory balance was $2,900,000 and for external reporting purposes the LIFO inventory balance was $1,500,000. What is the amount of the LIFO reserve and the LIFO effect related to 2020? What is the journal entry needed to record the LIFO effect at December 31, 2020? BE8.8 (LO 4) Midori Company had ending inventory at end-of-year prices of $100,000 at December 31, 2019; $119,900 at December 31, 2020; and $134,560 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 116 at 12/31/21. Compute the ending inventory for Midori Company for 2019 through 2021 using the dollar-value LIFO method. BE8.5 (LO 3) Data for Amsterdam Company are presented in BE8.4. Compute the April 30 inventory and the April cost of goods sold using the FIFO method. BE8.6 (LO 3) Data for Amsterdam Company are presented in BE8.4. Compute the April 30 inventory and the April cost of goods sold using the LIFO method. BE8.7 (LO 4) Trout Company uses the LIFO method for financial reporting purposes but FIFO for internal reporting purposes. At January 1, 2020, the LIFO reserve has a credit balance of $1,300,000. At December 31, 2020, Trout's internal reports indicated that the FIFO inventory balance was $2,900,000 and for external reporting purposes the LIFO inventory balance was $1,500,000. What is the amount of the LIFO reserve and the LIFO effect related to 2020? What is the journal entry needed to record the LIFO effect at December 31, 2020? BE8.8 (LO 4) Midori Company had ending inventory at end-of-year prices of $100,000 at December 31, 2019; $119,900 at December 31, 2020; and $134,560 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 116 at 12/31/21. Compute the ending inventory for Midori Company for 2019 through 2021 using the dollar-value LIFO method Step by Step Solution
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