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Bonita Industries began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years in end-of-year dollars was
Bonita Industries began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years in end-of-year dollars was $296000 and $458000 and the year-end price indices were 1.0 and 1.2. respectively. Assuming the current inventory at end of year prices equals $643000 and the index for the current year is 1.25, what is the ending inventory using dollar-value LIFO? (Round intermediate calculations and final answer to decimal places, eg. 10,000.) O $530966 O $564716. O $568466. O $557666 Save for Later Attempts: 0 of 1 used Submit
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