Question
Linguini Inc. adopted dollar-value LIFO (DVL) as of January 1, 2021, when it had an inventory of $842,000. Its inventory as of December 31, 2021,
Linguini Inc. adopted dollar-value LIFO (DVL) as of January 1, 2021, when it had an inventory of $842,000. Its inventory as of December 31, 2021, was $884,800 at year-end costs and the cost index was 1.12. What was DVL inventory on December 31, 2021?
Multiple Choice
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790,000.
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842,000.
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884,800.
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943,040.
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Modern Advanced Accounting In Canada
Authors: Hilton Murray, Herauf Darrell
7th Edition
1259066487, 978-1259066481
