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Please solve for price index, the answer is not 1.02441
The dollar value lifo is given...
Pharoah Company has used the dollar-value LIFO method since January 1, 2017. Pharoah uses internal price...
Pharoah Company has used the dollar-value LIFO method since January 1, 2017. Pharoah uses internal price indexes and multiple pools. At the end of calendar year 2018, the following data are available for Pharoah's inventory pool A At Current-Year Cost Inventory At Base-Year Cost $1,000,000 $1,000,000 January 1, 2017 December 31, 2017 1,250,000 1,375.000 December 31, 2018 1.300,000 1,495,000 Computing an internal price index and using the dollar value LIFO method, at what amount should the inventory in Pool A...
Pharoah Company adopted the dollar-value LIFO method on January 1, 2017 (using internal price indexes and...
Pharoah Company adopted the dollar-value
LIFO method on January 1, 2017 (using internal price indexes and
multiple pools). The following data are available for inventory
pool A for the 2 years following adoption of LIFO.
(14) Pharoah Company adopted the dollar-value LIFO method on January 1, 2017 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. Inventory 1/1/17 12/31/17 12/31/18 At Base-Year Cost $185,300 247,800...
Swifty Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and...
Swifty Company adopted the dollar-value LIFO method on January
1, 2020 (using internal price indexes and multiple pools). The
following data are available for inventory pool A for the 2 years
following adoption of LIFO.
Inventory
At Base-Year
Cost
At Current-Year
Cost
1/1/20
$201,600
$201,600
12/31/20
248,900
273,790
12/31/21
255,500
291,270
Computing an internal price index and using the dollar-value LIFO
method, at what amount should the inventory be reported at December
31, 2021?
December 31, 2021
Price Index
enter...
Wildhorse Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple poo...
Wildhorse Company adopted the dollar-value LIFO method on
January 1, 2020 (using internal price indexes and multiple pools).
The following data are available for inventory pool A for the 2
years following adoption of LIFO.
Inventory
At Base-Year
Cost
At Current-Year
Cost
1/1/20
$209,300
$209,300
12/31/20
226,200
248,820
12/31/21
281,300
320,682
Computing an internal price index and using the dollar-value LIFO
method, at what amount should the inventory be reported at December
31, 2021?
December 31, 2021
Price Index
enter...
On January 1, 2017, Buffalo Wholesalers Inc. adopted the dollar-value LIFO inventory method for income tax...
On January 1, 2017, Buffalo Wholesalers Inc. adopted the dollar-value LIFO inventory method for income tax and external financial reporting purposes. However, Buffalo continued to use the FIFO inventory method for internal accounting and management purposes. In applying the LIFO method, Buffalo uses internal conversion price indexes and the multiple pools approach under which substantially identical inventory items are grouped into LIFO inventory pools. The following data were available for inventory pool no. 1, which comprises products A and B,...
Problem 8-9 On January 1, 2017, Vaughn Wholesalers Inc. adopted the dollar-value LIFO inventory method for...
Problem 8-9
On January 1, 2017, Vaughn Wholesalers Inc. adopted the
dollar-value LIFO inventory method for income tax and external
financial reporting purposes. However, Vaughn continued to use the
FIFO inventory method for internal accounting and management
purposes. In applying the LIFO method, Vaughn uses internal
conversion price indexes and the multiple pools approach under
which substantially identical inventory items are grouped into LIFO
inventory pools. The following data were available for inventory
pool no. 1, which comprises products A...
Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used...
Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2021, with an inventory of $120,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended Ending Inventory Cost Index December 31 at Year-End Costs (Relative to Base Year) 2021 $ 198,000 1.10 2022 261,800 1.19 2023 243,600 1.16 2024 240,800 1.12
Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used...
Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2021, with an inventory of $150.000. Year-end inventories at year-end costs and cost indexes for its one inven Indexes for its one inventory pool were as follows Year Ended Ending Inventory Cost Index December 31 at Year-End Costs (Relative to Base Year) 2021 $200,000 1.08 2022 245,700 1.17 2023 235,980...
Your answer is incorrect. Concord Corp. had 1,900 units of part T on hand April 1,...
Your answer is incorrect.
Concord Corp. had 1,900 units of part T on hand April 1, 2017,
costing $8 each. During April, Concord made the following purchases
of part T.
Units
Unit
Cost
April
4
2,700
$8.25
10
4,800
8.40
19
1,200
9
29
3,000
9.90
A physical count at April 30, 2017 showed 4,300 units of Part T on
hand.
Using the FIFO method, what is the cost of part T inventory at
April 30, 2017? Using the LIFO...
Bond Company adopted the dollar-value LIFO Inventory method on January 1, 2018. In applying the LIFO...
Bond Company adopted the dollar-value LIFO Inventory method on January 1, 2018. In applying the LIFO method, Bond uses internal cost Indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO: Ending Inventory At Current At Base Year Cost Year Cost 1/1/2018 $300,000 $300,000 12/31/2018 345,600 320,000 12/31/2019420,000 350,000 Cost Index 1.00 1.08 1.20 Under the dollar-value LIFO method, the inventory at December 31, 2019, should...
Pharoah Company has used the dollar-value LIFO method since January 1, 2017. Pharoah uses internal price indexes and multiple pools. At the end of calendar year 2018, the following data are available for Pharoah's inventory pool A At Current-Year Cost Inventory At Base-Year Cost $1,000,000 $1,000,000 January 1, 2017 December 31, 2017 1,250,000 1,375.000 December 31, 2018 1.300,000 1,495,000 Computing an internal price index and using the dollar value LIFO method, at what amount should the inventory in Pool A...
Pharoah Company adopted the dollar-value
LIFO method on January 1, 2017 (using internal price indexes and
multiple pools). The following data are available for inventory
pool A for the 2 years following adoption of LIFO.
(14) Pharoah Company adopted the dollar-value LIFO method on January 1, 2017 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. Inventory 1/1/17 12/31/17 12/31/18 At Base-Year Cost $185,300 247,800...
Swifty Company adopted the dollar-value LIFO method on January
1, 2020 (using internal price indexes and multiple pools). The
following data are available for inventory pool A for the 2 years
following adoption of LIFO.
Inventory
At Base-Year
Cost
At Current-Year
Cost
1/1/20
$201,600
$201,600
12/31/20
248,900
273,790
12/31/21
255,500
291,270
Computing an internal price index and using the dollar-value LIFO
method, at what amount should the inventory be reported at December
31, 2021?
December 31, 2021
Price Index
enter...
Wildhorse Company adopted the dollar-value LIFO method on
January 1, 2020 (using internal price indexes and multiple pools).
The following data are available for inventory pool A for the 2
years following adoption of LIFO.
Inventory
At Base-Year
Cost
At Current-Year
Cost
1/1/20
$209,300
$209,300
12/31/20
226,200
248,820
12/31/21
281,300
320,682
Computing an internal price index and using the dollar-value LIFO
method, at what amount should the inventory be reported at December
31, 2021?
December 31, 2021
Price Index
enter...
Problem 8-9
On January 1, 2017, Vaughn Wholesalers Inc. adopted the
dollar-value LIFO inventory method for income tax and external
financial reporting purposes. However, Vaughn continued to use the
FIFO inventory method for internal accounting and management
purposes. In applying the LIFO method, Vaughn uses internal
conversion price indexes and the multiple pools approach under
which substantially identical inventory items are grouped into LIFO
inventory pools. The following data were available for inventory
pool no. 1, which comprises products A...
Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2021, with an inventory of $150.000. Year-end inventories at year-end costs and cost indexes for its one inven Indexes for its one inventory pool were as follows Year Ended Ending Inventory Cost Index December 31 at Year-End Costs (Relative to Base Year) 2021 $200,000 1.08 2022 245,700 1.17 2023 235,980...
Your answer is incorrect.
Concord Corp. had 1,900 units of part T on hand April 1, 2017,
costing $8 each. During April, Concord made the following purchases
of part T.
Units
Unit
Cost
April
4
2,700
$8.25
10
4,800
8.40
19
1,200
9
29
3,000
9.90
A physical count at April 30, 2017 showed 4,300 units of Part T on
hand.
Using the FIFO method, what is the cost of part T inventory at
April 30, 2017? Using the LIFO...
Bond Company adopted the dollar-value LIFO Inventory method on January 1, 2018. In applying the LIFO method, Bond uses internal cost Indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO: Ending Inventory At Current At Base Year Cost Year Cost 1/1/2018 $300,000 $300,000 12/31/2018 345,600 320,000 12/31/2019420,000 350,000 Cost Index 1.00 1.08 1.20 Under the dollar-value LIFO method, the inventory at December 31, 2019, should...
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