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Superior Camera Shop began using the dollar-value LIFO method in 2006 when its ending inventory was costed at $50,000. The 2007 ending inventory at year-end
Superior Camera Shop began using the dollar-value LIFO method in 2006 when its ending inventory was costed at $50,000. The 2007 ending inventory at year-end prices was $54,000. Calculate Superior Camera Shops increase or decrease of inventory in real terms assuming 109 percent is an appropriate price index.
a.) $459 decrease |
b.) $459 increase |
c.) $8,860 increase |
d.) $8,128 increase |
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