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The Blue Taco adopted $ value LIFO and has the following information: Date Ending inventory Index 12/31 year 1 10000 1.00 12/31 year 2 12100
The Blue Taco adopted $ value LIFO and has the following information: Date Ending inventory Index 12/31 year 1 10000 1.00 12/31 year 2 12100 1.10 12/31 year 3 14700 1.40 What is ending inventory for year 3 under LIFO? What is LIFO reserve at end of year 3? What will be added to COGS in year 3?
The Blue Taco adopted $ value LIFO and has the following information:
Date Ending inventory Index
12/31 year 1 10000 1.00
12/31 year 2 12100 1.10
12/31 year 3 14700 1.40
What is ending inventory for year 3 under LIFO?
What is LIFO reserve at end of year 3?
What will be added to COGS in year 3?
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