Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Presented below is information related to Bonita Corporation for the last 3 years. Base-Year Cost Current-Year Cost Item Quantities in Ending Inventories Unit Cost Amount
Presented below is information related to Bonita Corporation for the last 3 years.
Base-Year Cost | Current-Year Cost | |||||||||
Item | Quantities in Ending Inventories | Unit Cost | Amount | Unit Cost | Amount | |||||
December 31, 2016 | ||||||||||
A | 10,800 | $ 2.54 | $ 27,432 | $ 2.79 | $ 30,132 | |||||
B | 7,800 | 3.81 | 29,718 | 4.51 | 35,178 | |||||
C | 5,800 | 6.35 | 36,830 | 6.86 | 39,788 | |||||
Totals | $ 93,980 | $ 105,098 | ||||||||
December 31, 2017 | ||||||||||
A | 10,800 | $ 2.54 | $ 27,432 | $ 3.30 | $ 35,640 | |||||
B | 8,600 | 3.81 | 32,766 | 4.76 | 40,936 | |||||
C | 7,800 | 6.35 | 49,530 | 8.13 | 63,414 | |||||
Totals | $ 109,728 | $ 139,990 | ||||||||
December 31, 2018 | ||||||||||
A | 9,800 | $ 2.54 | $ 24,892 | $ 3.43 | $ 33,614 | |||||
B | 9,800 | 3.81 | 37,338 | 5.08 | 49,784 | |||||
C | 7,800 | 6.35 | 49,530 | 7.87 | 61,386 | |||||
Totals | $ 111,760 | $ 144,784 |
Compute indexes. (Round price index to 0 decimal places, e.g. 162.)
2016 | 2017 | 2018 | ||||
Index |
eTextbook and Media
Compute the ending inventories under the dollar-value LIFO method for 2016, 2017, and 2018. The base period is January 1, 2016, and the beginning inventory cost at that date was $ 45,300. (Round answers to 0 decimal places, e.g. 5,620.)
2016 | 2017 | 2018 | ||||
Ending Inventories | $ | $ | $ |
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