Question
Marigold, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Ended December 31 Inventory at Current-Year
Marigold, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow.
| Year Ended December 31 | Inventory at Current-Year Cost | Price Index | |||
|---|---|---|---|---|---|
| 2019 | $18,700 | 100 | |||
| 2020 | 21,060 | 108 | |||
| 2021 | 24,634 | 113 | |||
Compute the value of the 2020 and 2021 inventories using the dollar-value LIFO method.
| 2020 | 2021 | |||
|---|---|---|---|---|
| Inventory under LIFO | $enter a dollar amount | $enter a dollar amount |
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The Logistics Audit Methods Organization And Practice
Authors: Piotr Buła, Bartosz Niedzielski
1st Edition
1032461268, 978-1032461267
