Question
On January 1, 2018, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $100,800. The ending inventory, valued at year-end
On January 1, 2018, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $100,800. The ending inventory, valued at year-end costs, and the relative cost index for each of the next three years is below:
| Year-end | Ending inventory at year-end costs | Cost Index | |||||
| 2018 | $ | 128,520 | 1.05 | ||||
| 2019 | 146,520 | 1.10 | |||||
| 2020 | 156,960 | 1.20 | |||||
What inventory balance should Badger report on its 12/31/2018 balance sheet?
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Control And Audit In Management Accounting Cima Stage 4
Authors: Jeff Coates, Colin Rickwood, Ray Stacey
1st Edition
0750609958, 978-0750609951
