Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hello, im stuck i need help with these, thank you so much! 1) 2) 3) Pharoah Corporation adopted the dollar-value LIFO method of inventory valuation
Hello, im stuck i need help with these, thank you so much!
1)
2)
3)
Pharoah Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2024. Its inventory at that date was $1102000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Date Inventory at Current Prices Current Price Index December 31, 2025 $1280000 106 December 31, 2026 1447000 124 December 31, 2027 1627000 129 What is the cost of the ending inventory at December 31, 2026 under dollar-value LIFO? (Round intermediate calculations to O decimal places, e.g. 1,555.) $1166935 $1164083 $1170831 $1207547
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