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Stores Limited adopted the dollar - value LIFO inventory method using 2 0 2 1 as the base year. The cumulative price index for 2
Stores Limited adopted the dollar value LIFO inventory method using as the base year. The cumulative price index for through was and respectively Ending inventory according to Rita s Toy Stores trial balance using FIFO is presented in the following table: Year Ending Inventory per the Trial Balance $ Requirement a Compute stores ending inventory under the dollar value LIFO method for the years through Use price index amounts to two decimal places X XX Round all intermediary currency calculations and the amounts you enter into the cells below to the nearest whole dollar Year layer layer layer layer layer Ending inventory under dollar value LIFO Part Requirement b Prepare the journal entries for through to adjust inventory to the dollar value LIFO basis. Record debits first then credits. Exclude explanations from any journal entries. Round all intermediary currency calculations and the amounts you enter into the cells below to the nearest whole dollar Begin with the adjusting entry for Account Year end Part Prepare the adjusting entry for Account Year end Part Prepare the adjusting entry for Account Year end Part Prepare the adjusting entry for Account Year end Part Requirement c Determine the ending balance of the LIFO reserve for through Enter a for any zero balance of the LIFO reserve LIFO Reserve tableYear layer,,,,, layer,,,,, layer,,,,, layer,,,,, layer,,,,,Ending inventory under dollarvalue LIFO,,,,, where should i plug the figures into
Stores Limited adopted the
dollar
value LIFO inventory method using
as the base year. The cumulative price index for
through
was
and
respectively Ending inventory according to Rita
s Toy
Stores trial
balance using
FIFO is presented in the following
table: Year Ending Inventory per the Trial Balance
$
Requirement a
Compute stores ending inventory under the
dollar
value LIFO method for the years
through
Use price index amounts to two decimal
places X
XX
Round all intermediary currency calculations and the amounts you enter into the cells below to the nearest whole
dollar
Year
layer
layer
layer
layer
layer Ending inventory under dollar
value LIFO Part
Requirement b
Prepare the journal entries for
through
to adjust inventory to the
dollar
value LIFO basis.
Record debits
first then credits. Exclude explanations from any journal entries. Round all intermediary currency calculations and the amounts you enter into the cells below to the nearest whole
dollar
Begin with the adjusting entry for
Account
Year
end Part
Prepare the adjusting entry for
Account
Year
end Part
Prepare the adjusting entry for
Account
Year
end Part
Prepare the adjusting entry for
Account
Year
end Part
Requirement c
Determine the ending balance of the LIFO reserve for
through
Enter a
for any zero balance of the LIFO
reserve
LIFO Reserve tableYear layer,,,,, layer,,,,, layer,,,,, layer,,,,, layer,,,,,Ending inventory under dollarvalue LIFO,,,,, where should i plug the figures into
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