Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 07, 2024

please I need the correct answer. this is my final chance of submitting the answer. Inventory on January 1,2025, at cost and retail are $106000

please I need the correct answer. this is my final chance of submitting the answer.
Inventory on January 1,2025, at cost and retail are $106000 and $159000, respectively. Cullumber Company established its base year amounts on January 1, 2025. The price index for 2025 was 120 and the cost-retail percentage for 2025 was 70.00%. If ending inventory at retail was $222600, how much would Cullumber's ending inventory be using the dollar-value LIFO retail method? $128260$155820$222600$169600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Verify Equation (9.36).

Answered: 1 week ago

Question

★★★★★

An analyst for an oil company has developed a formal linear regression model to predict the sales of 50 of their filling stations. The estimated model is Å¶ = b0 + b1 X1 where...

Answered: 1 week ago

Question

★★★★★

Accounting Assignment (100) 1. Ms. Anna started her business ("Anna Car Repairing Shop) on January 1, 2018. During the first month of its operations, the business engaged in the following...

Answered: 1 week ago

Question

★★★★★

Profit-Volume Chart For the coming year, Loudermilk Inc. anticipates fixed costs of $600,000, a unit variable cost of $75, and a unit selling price of $125. The maximum sales within the relevant...

Answered: 1 week ago

Question

★★★★★

1. While working with Alcoa's operations in Tennessee, Russ Ackoff consulted on their efforts to introduce... a) the first Quality Circles in the United States b) a Quality of Work-Life Program c)...

Answered: 1 week ago

Question

★★★★★

Relying solely on your impressions, how is the higher education industry changing and, faced with these trends, how should traditional universities respond, especially traditional U.S. universities?

Answered: 1 week ago

Question

★★★★★

Penny and Daughter's construction business is considering purchasing a new Bobcat. The equipment will cost $150,000 and is expected to last 12 years. The Bobcat has a salvage vale of $7,000....

Answered: 1 week ago

Question

★★★★★

Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below:...

Answered: 1 week ago

Question

★★★★★

Briony investigated the variation in daily mean air temperature, x C, for Beijing in May and June 2015. She used the large data set to select a sample of size 15. She selected the first value by...

Answered: 1 week ago

Previous Question Next Question