Question
Presented below is information related to Larkspur Corporation. Price Index LIFO Cost Retail Inventory on December 31, 2017, when dollar-value LIFO is adopted 100 $34,200
Presented below is information related to Larkspur Corporation.
| Price Index | LIFO Cost | Retail | ||||
| Inventory on December 31, 2017, | ||||||
| when dollar-value LIFO is adopted | 100 | $34,200 | $77,200 | |||
| Inventory, December 31, 2018 | 110 | ? | 97,240 |
Compute the ending inventory under the dollar-value LIFO method at December 31, 2018. The cost-to-retail ratio for 2018 was 60%.
| Ending inventory under the dollar-value LIFO method at December 31, 2018 |
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Eco Management And Audit Scheme
Authors: Gerardus Blokdyk
3rd Edition
0655169709, 978-0655169703
