Question
Suppose that the Consumer Price Index [CPI] on 1 January 2020was 100 and CPI on 31 December 2020 is 103. The historical cost of ending
Suppose that the Consumer Price Index [CPI] on 1 January 2020was 100 and CPI on 31 December 2020 is 103. The historical cost of ending inventory is 20000. The adjusted value of ending inventory that reflects inflation is
a. 20000
b. 21000
c. 20600
d. 20400
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c 20600 Explanation To calculate the percentage increase in CPI End of the year CPI ...
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Introduction To Business Statistics
Authors: Ronald M. Weiers
7th Edition
978-0538452175, 538452196, 053845217X, 2900538452198, 978-1111524081
