Question
Linguini Inc. adopted dollar-value LIFO (DVL) as of January 1, 2018, when it had an inventory of $840,000. Its inventory as of December 31, 2018,
Linguini Inc. adopted dollar-value LIFO (DVL) as of January 1, 2018, when it had an inventory of $840,000. Its inventory as of December 31, 2018, was $867,900 at year-end costs and the cost index was 1.10. What was DVL inventory on December 31, 2018?
Multiple Choice
- 789,000.
- 840,000.
- 867,900.
- 924,000.
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Managerial Accounting
Authors: Kurt Heisinger, Joe Ben Hoyle
2nd edition
1453375723, 1453375724, 978-1453375716
