FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer correctly At the beginning of 2024, a company adopts the dollar-value LIFO inventory method for its one inventory pool. The pool's value on

image text in transcribed
please answer correctly
At the beginning of 2024, a company adopts the dollar-value LIFO inventory method for its one inventory pool. The pool's value on that date was $1,100,000. The 2024 ending inventory valued at year-end costs was $1,485,000 and the year-end cost index was 1.08 . Calculate the inventory value at the end of 2024 using the dollar-value LFO method

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

The Whole School Audit Development Planning For Primary And Special Schools

The Whole School Audit Development Planning For Primary And Special Schools

Authors: Brian Drakeford

1st Edition

1853465011, 978-1853465017

More Books

Students also viewed these Accounting questions

Question

★★★★★
How is the ADAS model different from the ISMP model?

Answered: 1 week ago

Question

★★★★★
How many months will it take to save $5000 by making deposits of $60 at the end of every month into an account earning interest at 6% monthly?

Answered: 1 week ago

Question

★★★★★
High school dropout rates (percentages) for 2008 for the 50 states were given in the 2008 Kids Count Data Book (www.aecf.org) and are shown in the following table: Note that dropout rates range from...

Answered: 1 week ago

Question

★★★★★
Assume that your company uses a release methodology for its sales system. The current version is 4.5. Decide whether each of the following changes would justify a version 5.0 release, or be included...

Answered: 1 week ago

Question

★★★★★
ending money on the note receivable at August 31, 2021, (b) accrual of interest at June 30, 2022, and (c) collection of principal and interest at August 31,2022 , the maturity date of the not (a)...

Answered: 1 week ago

Question

★★★★★
Shawl-ce Company's partially completed flexible overhead budget for the current period follows. This budget is based on its predicted activity of 50% of productive capacity. Complete its exible...

Answered: 1 week ago

Question

★★★★★
Suppose Coca-Cola and Pepsi-Cola, who do not communicate, are engaged in a sales game and each firm seeks to maximize profit. The firms set high price or low price. If both set high price, each makes...

Answered: 1 week ago

Question

★★★★★
Mal Co currently sells 25 styles of sports watches. The market has remained static with an overall revenue of $50 million. Mal Co is always trying to bring out new designs and colours to try and...

Answered: 1 week ago

Question

★★★★★
Two employees are arguing loudly in the hallway about their working relationship. One accuses the other of setting them up for failure and looking bad in front of their supervisor. Tensions escalate...

Answered: 1 week ago

Question

★★★★★
Pizza Land operates a pizza franchise in LA. The owner has provided the following budgeted data for next year. Revenue $11,838,000 Fixed Costs $3,198,000 Variable Costs (depends on the # of pizzas...

Answered: 1 week ago

Question

★★★★★
An executive coach started working with employees at Agency ???? ???? one month ago, and since then, Agency X ' " id="MathJax-Element-2-Frame" role="presentation" style="font-size: 121%; position:...

Answered: 1 week ago

Question

★★★★★
Teamwork. Ethics. Form a group of two or three students. Decide what you believe would be the best way to respond to each of the unacceptable questions included in this chapter. Also, discuss ethical...

Answered: 1 week ago

Question

★★★★★
Teamwork. Form a group of three or four students and gather employment information and job listings for the following positions.Make an effort to use at least four of the sources identified in the...

Answered: 1 week ago

Question

★★★★★
List the names of individuals in your personal network of friends, relatives, instructors, and acquaintances who could be valuable to you in a job search. From this list, develop a reference list....

Answered: 1 week ago

Previous Question Next Question