Homework Answers
Answer : - Ending Inventory using dollar value method is $132,576
Please refer the below workings and let me know in case of any doubts.
| Backing out the Price inflation from inventory and moving to Base Price index | ||||
| Years | 2019 | 2020 | 2021 | |
| A. | Ending Inventory | $96,000 | $115,104 | $127,200 |
| B. | Price Index | 1 | 1.1 | 1.2 |
| C. | Base Index | 1 | 1 | 1 |
| D. | Ending Inventory Base Year Prices (A/B)*C | $96,000 | $104,640 | $106,000 |
Formulas:-
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Presented below is information related to Windsor Company. Ending Inventory (End-of-Year Prices) Price Index Date December...
Presented below is information related to Windsor Company. Ending Inventory (End-of-Year Prices) Price Index Date December 31, 2017 $ 84,700 100 December 31, 2018 164,199 147 December 31, 2019 161,112 168 December 31, 2020 181,636 182 196 December 31, 2021 218,932 December 31, 2022 258,825 203 Compute the ending inventory for Windsor Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $ 2018 2019 $ $ 2020 2021 2022 $ $
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Ouestion 9 Your answer is partially correct. Try again. Crane Company had ending inventory at end-of-year prices of $80,000 at December 31, 2019; $98,230 at December 31, 2020; and $110,100 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 120 at 12/31/21. Compute the ending inventory for Crane Company for 2019 through 2021 using the dollar-value LIFO method 2019 2020 2021 Ending Inventory 80000
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Current Attempt in Progress - Your answer is partially correct. Crane Company had ending inventory at end-of-year prices of $80,000 at December 31, 2019; $98,230 at December 31, 2020; and $110,100 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 120 at 12/31/21. Compute the ending inventory for Crane Company for 2019 through 2021 using the dollar-value LIFO method. 2019 2020 2021 Ending Inventory $ Ending Inventory $ 80000 80000 5 59947 9947...
Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2017 $ 73,200 100 December 31, 2018...
Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2017 $ 73,200 100 December 31, 2018 128,876 116 December 31, 2019 124,608 132 December 31, 2020 140,426 143 December 31, 2021 168,476 154 December 31, 2022 199,520 160 Compute the ending inventory for Nash Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 2018 2019 $enter a dollar amount 2020 2021 2022
Blossom Company had ending inventory at end-of-year prices of $216,500 at December 31, 2016; 239,700 at...
Blossom Company had ending inventory at end-of-year prices of $216,500 at December 31, 2016; 239,700 at December 31, 2017; and $252,500 at December 31, 2018. The year-end price indexes were 100 at 12/31/16, 106 at 12/31/17, and 110 at 12/31/18. Compute the ending inventory for Blossom Company for 2016 through 2018 using the dollar-value LIFO method. (
Presented below is information related to Metlock Company. Ending Inventory (End-of-Year Prices) Date Price Index December...
Presented below is information related to Metlock Company. Ending Inventory (End-of-Year Prices) Date Price Index December 31, 2017 $83,800 100 December 31, 2018 176,802 158 December 31, 2019 175,320 180 December 31, 2020 197,535 195 210 December 31, 2021 238,140 December 31, 2022 286,452 218 Compute the ending inventory for Metlock Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $ 2018 $ 2019 $ $ 2020 2021 2022
Presented below is information related to Bonita Company. Ending Inventory (End-of-Year Prices) Date Price Index $...
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Presented below is information related to Splish Company. Date Ending Inventory (End-of-Year Prices) Price Index December...
Presented below is information related to Splish Company. Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2017 $ 83,600 100 December 31, 2018 261,723 231 December 31, 2019 258,456 264 December 31, 2020 292,006 286 December 31, 2021 349,580 308 December 31, 2022 421,399 319 Compute the ending inventory for Splish Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $enter a dollar amount 2018 $enter a dollar amount 2019 $enter a dollar amount 2020...
Presented below is information related to Splish Company. Date Ending Inventory (End-of-Year Prices) Price Index December...
Presented below is information related to Splish Company. Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2017 $ 83,600 100 December 31, 2018 261,723 231 December 31, 2019 258,456 264 December 31, 2020 292,006 286 December 31, 2021 349,580 308 December 31, 2022 421,399 319 Compute the ending inventory for Splish Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $enter a dollar amount 2018 $enter a dollar amount 2019 $enter a dollar amount 2020...
Presented below is information related to Windsor Company. Ending Inventory (End-of-Year Prices) Price Index Date December 31, 2017 $ 84,700 100 December 31, 2018 164,199 147 December 31, 2019 161,112 168 December 31, 2020 181,636 182 196 December 31, 2021 218,932 December 31, 2022 258,825 203 Compute the ending inventory for Windsor Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $ 2018 2019 $ $ 2020 2021 2022 $ $
Question 1 View Policies Current Attempt in Progress Oriole Company had ending Inventory at end-of-year prices of $122.000 at December 31, 2019, $146,278 at December 31, 2020, and $164,100 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 120 at 12/31/21. Compute the ending inventory for Oriole Company for 2019 through 2021 using the dollar-value LIFO method. 2021 2020 2019 Ending Inventory $
Ouestion 9 Your answer is partially correct. Try again. Crane Company had ending inventory at end-of-year prices of $80,000 at December 31, 2019; $98,230 at December 31, 2020; and $110,100 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 120 at 12/31/21. Compute the ending inventory for Crane Company for 2019 through 2021 using the dollar-value LIFO method 2019 2020 2021 Ending Inventory 80000
Current Attempt in Progress - Your answer is partially correct. Crane Company had ending inventory at end-of-year prices of $80,000 at December 31, 2019; $98,230 at December 31, 2020; and $110,100 at December 31, 2021. The year-end price indexes were 100 at 12/31/19, 110 at 12/31/20, and 120 at 12/31/21. Compute the ending inventory for Crane Company for 2019 through 2021 using the dollar-value LIFO method. 2019 2020 2021 Ending Inventory $ Ending Inventory $ 80000 80000 5 59947 9947...
Presented below is information related to Metlock Company. Ending Inventory (End-of-Year Prices) Date Price Index December 31, 2017 $83,800 100 December 31, 2018 176,802 158 December 31, 2019 175,320 180 December 31, 2020 197,535 195 210 December 31, 2021 238,140 December 31, 2022 286,452 218 Compute the ending inventory for Metlock Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $ 2018 $ 2019 $ $ 2020 2021 2022
Presented below is information related to Bonita Company. Ending Inventory (End-of-Year Prices) Date Price Index $ 78,300 100 169,936 169,128 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 December 31, 2022 191,457 226,345 269.220 Compute the ending inventory for Bonita Company for 2017 through 2022 using the dollar-value LIFO method. Compute the ending inventory for Bonita Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $ 2018 $ 2019...
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