Question
A company adopted dollar-value LIFO on January 1, 2024, when the inventory value was $378,000 and the cost index was 1.25. On December 31, 2024,
A company adopted dollar-value LIFO on January 1, 2024, when the inventory value was $378,000 and the cost index was 1.25. On December 31, 2024, the inventory was valued at year-end cost of $413,000 and the cost index was 1.30. The company would report a LIFO inventory of:
$397,088
$428,080
$397,880
$391,680
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Cost Accounting Planning And Control
Authors: Adolph Matz, Milton F. Usry
10th Edition
0538809256, 978-0538809252
