Question
Wildhorse Company manufactures one product. On December 31, 2019, Wildhorse adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO
Wildhorse Company manufactures one product. On December 31, 2019, Wildhorse adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $910,000. Inventory data are as follows:
| Year | Inventory at year-end prices | Price index (base year 2019) | ||||
| 2020 | $1,266,300 | 1.05 | ||||
| 2021 | 1,807,800 | 1.15 | ||||
| 2022 | 1,920,000 | 1.25 | ||||
Compute the inventory at December 31, 2020, 2021, and 2022, using the dollar-value LIFO method for each year.
| Inventory at December 31, 2020 | $ | |
| Inventory at December 31, 2021 | $ | |
| Inventory at December 31, 2022 | $ |
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Expert Fraud Investigation A Step By Step Guide
Authors: Tracy Coenen
1st Edition
0470387963, 978-0470387962
