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ABC, Inc. sells a single product. The company adopted the monetary LIFO (dollar value LIFO) method to value inventory beginning on December 31, 2017. Information
ABC, Inc. sells a single product. The company adopted the monetary LIFO (dollar value LIFO) method to value inventory beginning on December 31, 2017. Information related to the company's inventory is presented below: Date Inventory at Current Costs Low FIFO Price Index 12/31/17 $ 150,000 1.00 12/31/18 252,000 1.05 12/31/19 260,000 1.15 12/31/20 314,000 1.20 Determine the cost of inventory as of December 31, 2020 under DVL. ABC, Inc.vende un solo producto. La empresa adopto el mtodo de LIFO monetario (dollar value LIFO) para valorar el inventario comenzando el 31 de diciembre de 2017. A continuacin, se presenta informacin relacionada con el inventario de la empresa: Fecha Indice de Precios Inventario a Costos Corrientes Bajo FIFO $150,000 252,000 1.00 31/12/17 31/12/1 8 1.05 260,000 1.15 31/12/1 9 31/12/2 0 314,000 1.20 Determine el costo del inventario al 31 de diciembre de 2020 bajo DVL ABC, Inc.vende un solo producto. La empresa adopto el mtodo de LIFO monetario (dollar value LIFO) para valorar el inventario comenzando el 31 de diciembre de 2017. A continuacin, se presenta informacin relacionada con el inventario de la empresa: Fecha Indice de Precios Inventario a Costos Corrientes Bajo FIFO $150,000 252,000 1.00 31/12/17 31/12/1 8 1.05 260,000 1.15 31/12/1 9 31/12/2 0 314,000 1.20 Determine el costo del inventario al 31 de diciembre de 2020 bajo DVL
ABC, Inc. sells a single product. The company adopted the monetary LIFO (dollar value LIFO) method to value inventory beginning on December 31, 2017. Information related to the company's inventory is presented below:
Date
Inventory at Current Costs
Low FIFO
Price Index
12/31/17
$ 150,000
1.00
12/31/18
252,000
1.05
12/31/19
260,000
1.15
12/31/20
314,000
1.20
Determine the cost of inventory as of December 31, 2020 under DVL.
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