Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 14, 2024

Bonita Industries had January 1 inventory of $293000 when it adopted dollar-value LIFO. During the year, purchases were $1860000 and sales were $2960000. December 31

Bonita Industries had January 1 inventory of $293000 when it adopted dollar-value LIFO. During the year, purchases were $1860000 and sales were $2960000. December 31 inventory at year-end prices was $429400, and the price index was 113.

What is Bonita Industries's ending inventory?

$429400.

$380000.

$293000.

$391310.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach

Authors: Jeffrey Slater, Brian Zwicker

12th Canadian edition

133133230, 978-0133133233

More Books

Students also viewed these Accounting questions

Question

★★★★★

a. You are the manager of a fast food restaurant. You want to determine whether the population means waiting time to place an order has changed in the past month from its previous population mean...

Answered: 1 week ago

Question

★★★★★

2. Assign all groups research reports, but make some written, and others oral or PowerPoint presentations.

Answered: 1 week ago

Question

★★★★★

My Motto Is You will often see inspirational quotes or sayings that people have chosen to include at the bottom of their e-mails. Some are humorous, some relay a personal agenda, and others are...

Answered: 1 week ago

Question

★★★★★

Taxable income and pretax financial income would be identical for Ursula Co. except for its depreciation on equipment purchased in 2014 for $500,000 and estimated costs of warranties. The following...

Answered: 1 week ago

Question

★★★★★

Introduction to software engineering Question 1: Give the Domain Rules for following systems: 1. Distributed Web-based Services. 2. Inventory Management. Note: You need to opt the shown layout. ID...

Answered: 1 week ago

Question

★★★★★

What is last years margin? What is last years turnover? (Round your answer to 1 decimal place.) What is last years return on investment (ROI)? What is the margin related to this years investment...

Answered: 1 week ago

Question

★★★★★

Management at the Terrain Corporation is implementing a new just-in-time production system to achieve and maintain low inventory levels. This will help the company to reduce costs and increase...

Answered: 1 week ago

Question

★★★★★

Risk-neutral probabilities are always Select one: O equal to atomic prices O less than physical probabilities O equal to forward atomic prices O negative O equal to physical probabilities

Answered: 1 week ago

Question

★★★★★

its in-coming taxi Sh. H. Mukherjee constructed a building on 30th June, 2011. It had two flats of equal dimensions. One flat was let out to a tenant for residential purpose on a monthly rent of Rs...

Answered: 1 week ago

Question

★★★★★

Which of the following constitute barriers to training evaluation? a. Too much trainer expertise and lack of stakeholder interest or accountability. b. Ability to access key stakeholders and...

Answered: 1 week ago

Question

★★★★★

Find and post an article, video, or interview on why Compliance is important in an organization. Explain why you selected the particular document or materials.

Answered: 1 week ago

Question

★★★★★

n 2010, Blair contracted to buy an apartment on Macquarie St in the CBD. She borrowed $700,000 of the $950,000 purchase price from Bridge Finance. After settlement, Bridge Finance put the signed...

Answered: 1 week ago

Question

★★★★★

3. How much information do we need to collect?

Answered: 1 week ago

Question

★★★★★

2. What types of information are we collecting?

Answered: 1 week ago

Question

★★★★★

5. How quickly can we manage to collect the information?

Answered: 1 week ago

Previous Question Next Question