QUESTION 11 Use the following information for questions 11 through 14. Trent Co. uses the Dollar Value LIFO Retail Inventory method. The following information is available for the current year. Beginning inventory: Cost 78,000 Retail $122.000 Purchases: Cost $295,000 Retail $415,000 Freight in $5,000 Net Markups $15,000 Net Markdowns S? Sales 5392,000 Ending Inventory at Retail 5140,000 QUESTION 12 Ir the ending inventory is to be valued at Dollar Value LIFO Retail Inventory Method, the calculation of the cost ratio for a new layer should be based on cost and retail of A 5378.000 and $552,000 0.8378,000 and 532.000 C. $300.000 and $430,000 SO 500,000 and $410,000 QUESTION 13 If the Ending Inventory at Cost Current Prices for the current year, calculated after adjustments for constant dollar is 580,460, then by how much did sales prices rise in the current year? Assume of course that the base price index is 1.00. Provide your answer in hundreds (e.g. 1.15 if prices are up 15%) QUESTION 14 Regarding the information presented in the question above, imagine setting up the beginning inventory cost and retail figures to estimate the beginning EVR/CP (the blonde haired kid in the tux who comes out of the school for the NEXT year. If the retail amount is $140,000, then what is the Cost? Picture this set up Retail Beginning inventory.... 57 5140,000 Purchases + etc QUESTION 11 Use the following information for questions 11 through 14. Trent Co. uses the Dollar Value LIFO Retail Inventory method. The following information is available for the current year. Beginning inventory: Cost 78,000 Retail $122.000 Purchases: Cost $295,000 Retail $415,000 Freight in $5,000 Net Markups $15,000 Net Markdowns S? Sales 5392,000 Ending Inventory at Retail 5140,000 QUESTION 12 Ir the ending inventory is to be valued at Dollar Value LIFO Retail Inventory Method, the calculation of the cost ratio for a new layer should be based on cost and retail of A 5378.000 and $552,000 0.8378,000 and 532.000 C. $300.000 and $430,000 SO 500,000 and $410,000 QUESTION 13 If the Ending Inventory at Cost Current Prices for the current year, calculated after adjustments for constant dollar is 580,460, then by how much did sales prices rise in the current year? Assume of course that the base price index is 1.00. Provide your answer in hundreds (e.g. 1.15 if prices are up 15%) QUESTION 14 Regarding the information presented in the question above, imagine setting up the beginning inventory cost and retail figures to estimate the beginning EVR/CP (the blonde haired kid in the tux who comes out of the school for the NEXT year. If the retail amount is $140,000, then what is the Cost? Picture this set up Retail Beginning inventory.... 57 5140,000 Purchases + etc
