Question
7. Yelsi Inc. began using dollar-value LIFO for costing its inventory last year. The base year layer consists of $350,000. Assuming the current inventory at
7. Yelsi Inc. began using dollar-value LIFO for costing its inventory last year. The base year layer consists of $350,000. Assuming the current inventory at end of year prices equals $483,000 and the index for the current year is 1.10, what is the ending inventory using dollar-value LIFO?
a.$483,000.
b.$448,000.
c.$439,091.
d.$531,300.
Please show work.
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Business Communication Essentials
Authors: Courtland Bovee
4th Canadian Edition
0133508706, 978-0133508703
