Question
Winnebago Industries, Inc. is a leading manufacturer of motor homes. Suppose Winnebago Industries, Inc. reported ending inventory at August 29, 2017, of $48,338,000 under the
Winnebago Industries, Inc.is a leading manufacturer of motor homes. Suppose Winnebago Industries, Inc. reported ending inventory at August 29, 2017, of $48,338,000 under the LIFO inventory method. In the notes to its financial statements, assume Winnebago Industries, Inc. reported a LIFO reserve of $30,487,000 at August 29, 2017.
What would Winnebago Industries, Inc.'s ending inventory have been if it had used FIFO?
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
15th Edition
978-1337398169
