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Bond Company adopted the dollar-value LIFO inventory method on January 1, 2021. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools
Bond Company adopted the dollar-value LIFO inventory method on January 1, 2021. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO: Ending Inventory At Year-End At Base Cost Year Year Cost Index 1/1/2021 $300, 000 $300, 000 1.00 12/31/2021 345, 600 320, 000 1.08 12/31/2022 420, 000 350, 000 1. 20 Under the dollar-value LIFO method, the inventory at December 31, 2022, should be$357,600. O $350,000. O $351,600. O None of these answer choices are correct.Brockton Carpet Cleaning prepares a bank reconciliation at the end of every month. At the end of July, the balance in the general ledger checking account was $2,990 and the bank balance on the bank statement was $3,100. Outstanding checks totaled $300 and deposits In trans'rted were $520. The bank statement revealed that a check written for $240 was incorrecy recorded by Brockton as a $340 disbursement The bank statement listed service charges and NSF check charges totaling $270. The corrected cash balance is: O $2,390. O $2,670. O $2,590. O $2,820
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