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The disclosure note below is from the 2 0 2 0 1 0 - K report of Casey's General Stores, Inc., an operator of convenience
The disclosure note below is from the K report of Casey's General Stores, Inc., an
operator of convenience stores $ thousands
Inventories
Inventories, which consist of merchandise and fuel, are stated at the lower of cost or market. For
fuel, cost is determined through the use of the firstin firstout FIFO method. For merchandise
inventories, cost is determined through the use of the lastin firstout LIFO method. The excess of
replacement cost over the stated LIFO value was $ and $ at April and
respectively. There were no material LIFO liquidations during the period presented. Below is a
summary of the inventory values at April and
In Casey's General Stores reported sales revenue of $ million and cost of goods sold of
$ million.
a Calculate the amount of inventories purchased by Casey's General Stores in Round
intermediate calculations and answers to one decimal place.
$
million.
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