Question
Company P has the following inventory information: Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2021 $ 85,600 100 December 31, 2022 99,100 111
Company P has the following inventory information:
| Date | Ending Inventory (End-of-Year Prices) | Price Index | ||||
| December 31, 2021 | $ 85,600 | 100 | ||||
| December 31, 2022 | 99,100 | 111 | ||||
Use the dollar-value LIFO method to compute the ending inventory for 2022.
- A. $99,684
- B. $89,684
- C. $112,884
- D. $109,884
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
