Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with the rest please! and please show the calculations! answer fully for a thumbs up! thank you! Check my work (Algo) Dollar-value

I need help with the rest please! and please show the calculations! answer fully for a thumbs up! thank you! image text in transcribed
image text in transcribed
image text in transcribed
Check my work (Algo) Dollar-value LIFO [LO8-8) 21. Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool $350,000. An internally generated cost index is used to convert ending inventory to base year. Year-end inventories and cost indexes for its one inventory pool were as follows: Inventory Cost Index Year-End Costs (Relative to Base Year) $438,78 1.83 451, 54e 1.07 508, 680 1.08 548,895 1.11 vry amounts at the end of each year. (Round intermediate calculations and final answers to the nearest whole ventory Layers Converted to Base Year Cost Inventory DVL Cost Inventory Layers Converted to Cost Ver. Inventory an. Van End Help Save & Exit Submit Check my work Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory OVL Cost Date Inventory at Year-End Year-End Cost Cost Index s 350,000.00 $ 438,780 11.03 01/01/2021 12/31/2021 Inventory Inventory Year-End Layers at Base Layers at Base Cost Year Cost Year Cost Index $ 350,000 Base $ 350,000.00 S 426.000 Bases 350.000 11.00 20211 s 76,000.03 Inventory Layers Converted to Cost S 350,000 $ $ 350.000 S 78,2805 350.000 NE 428,280 12/31/2022 $ 451,540107 $ 422,000 Bases 2021 2022 350.000 11.00 11.03 ## $ $ 350.000 78.280 5 428,280 . 12/31/2023 $ 508,6801.08 $ 350,000.00 $ 350,000] 471,000 Bases 2021 2022 2023 $ 350.000 12/31/2024 5A 11 maal im Saved Help Save & Exit Submit Check my work 12/31/2022 $ 451,5401.07 $ 422,000 Bases 2021 2022 350,000.00 11.03 S 350.000 78 280 S $ 428 280 12/31/2023 $ 508,680108 $ 350,000.00 $ 350.000 471.000 Bases 2021 2022 2023 ### s 350.000 12/31/2024 $ 548,895 1.11 $ 350,000.00 - $ 350.000 494,500 Bases 2021 2022 2023 2024 $ 350,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Exploring Strategic Change

Authors: Julia Balogun, Veronica Hope Hailey, Stafanie Gustafsson

4th Edition

0273778919, 9780273778912

More Books

Students also viewed these Accounting questions

Question

5. Explain the supervisors role in safety.

Answered: 1 week ago