Question
Udon Inc. adopted dollar-value LIFO (DVL) as of January 1, 2018, when it had an inventory of $710,000. Its inventory as of December 31, 2018,
Udon Inc. adopted dollar-value LIFO (DVL) as of January 1, 2018, when it had an inventory of $710,000. Its inventory as of December 31, 2018, was $862,500 at year-end costs and the cost index was 1.15. What was DVL inventory on December 31, 2018?
Multiple Choice
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$862,500.
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$750,000.
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$816,500.
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$756,000.
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Cost And Management Accounting An Introduction
Authors: Colin Drury
7th Edition
1408032139, 978-1408032138
