Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please asap. Bonita Industries adopted the dollar value LIFO method of inventory valuation on December 31, 2019. its inventory at that date was $1103000 and

please asap.
image text in transcribed
Bonita Industries adopted the dollar value LIFO method of inventory valuation on December 31, 2019. its inventory at that date was $1103000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follow Date December 31, 2020 December 31, 2021 December 31, 2022 Inventory at Current Prices 51284000 1458000 1627000 Current Price Index 106 124 129 What is the cost of the ending inventory at December 31, 2021 under dollar-value LiFor Round intermediate calculations and final answer to decimal places es 10.000) $1172806 51180174 51211321 $1175006

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_2

Step: 3

blur-text-image_3

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

Agile Auditing Fundamentals And Applications

Authors: Raven Catlin, Danny M Goldberg, Ceciliana Watkins

1st Edition

1119693462, 9781119693468

More Books

Students also viewed these Accounting questions