Question
RF Company had January 1 inventory of $300,000 when it adopted dollar-value LIFO. During the year, purchases were $1,800,000 and sales were $3,000,000. December 31
RF Company had January 1 inventory of $300,000 when it adopted dollar-value LIFO. During the year, purchases were $1,800,000 and sales were $3,000,000. December 31 inventory at year-end prices was $430,080, and the price index was 112. What is RF Companys ending inventory? PLEASE EXPLAIN HOW TO CALCULATE
|
| $300,000. |
|
| $384,000. |
|
| $394,080. |
|
| $430,080. |
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Auditing Information Systems Enhancing Performance Of The Enterprise
Authors: Abraham Nyirongo
1st Edition
1490754997, 9781490754994
