Marigold Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2016. Its inventory...
Marigold Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2016. Its inventory at that date was $1130000 and the relevant price index was 100.
Information regarding inventory for subsequent years is as follows:
Date
Inventory at Current Prices
Current Price Index
December 31, 2017 $1272000 106
December 31, 2018 1457000 124
December 31, 2019 1625000 130
What is the cost of the ending inventory at December 31, 2019 under dollar-value LIFO?
$1313700.
$1270700.
$1275200.
$1250000.
Homework Answers
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Marigold Corp. adopted the dollar-value LIFO method of inventory
valuation on December 31, 2016. Its inventory...
Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2016. Its inventory...
Gross Corporation adopted the dollar-value
LIFO method of inventory valuation on December 31, 2016. Its
inventory at that date was $1100000 and the relevant price index
was 100. Information regarding inventory for subsequent years is as
follows: Date Inventory at Current Prices Current Price Index
December 31, 2017 $1284000 107 December 31, 2018 1450000 125
December 31, 2019 1625000 130 What is the cost of the ending
inventory at December 31, 2019 under dollar-value LIFO?
*PLEASE EXPLAIN IN DETAIL, LIKE...
1. Sheffield Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2016. Its...
1. Sheffield Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2016. Its inventory at that date was $1,120,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Date Inventory at Current Prices Current Price Index December 31, 2017 $1,293,630 107 December 31, 2018 1,413,350 115 December 31, 2019 1,590,000 125 What is the cost of the ending inventory at December 31, 2019 under dollar-value LIFO? A. $1,209,000 B. $1,293,630...
Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Information regarding...
Gross Corporation adopted the dollar-value
LIFO method of inventory valuation on December 31, 2013.
Information regarding inventory for 2013 and subsequent years is as
follows:DateInventory atCurrent PricesCurrentPrice IndexDecember
31, 2013$550,000100December 31, 2014642,000105December 31,
2015725,000110December 31, 2016812,500115What is the cost of the
ending inventory at December 31, 2016 under dollar-value LIFO?
13. Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Information regarding inventory for 2013 and subsequent years is as follows: Date December 31, 2013...
D is incorrect... * Your answer is incorrect. Swifty Corporation adopted the dollar-value LIFO method of...
D is incorrect...
* Your answer is incorrect. Swifty Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1102000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Date December 31, 2020 December 31, 2021 December 31, 2022 Inventory at Current Current Prices Price Index $1286000 106 1449000 124 1627000 129 What is the cost of the ending inventory at December 31, 2021...
Coronado Industries adopted the dollar-value LIFO inventory method on December 31, 2017. Coronado's entire inventory constitutes...
Coronado Industries adopted the dollar-value LIFO inventory method on December 31, 2017. Coronado's entire inventory constitutes a single pool. On December 31, 2017, the inventory was $969000 under the dollar-value LIFO method. Inventory data for 2018 are as follows: 12/31/18 inventory at year-end prices Relevant price index at year end (base year 2017)110 $1331000 Using dollar value LIFO, Coronado's inventory at December 31, 2018 is $1210000. $1065900. $133100o. O $1234100
Sunland Company manufactures one product. On December 31, 2019, Sunland adopted the dollar-value LIFO inventory method....
Sunland Company manufactures one product. On December 31, 2019, Sunland adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $990,000. Inventory data are as follows: Year Inventory at year-end prices Price index (base year 2019) 2020 $1,253,700 1.05 2021 1,840,000 1.15 2022 1,950,000 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...
Pharoah Company manufactures one product. On December 31, 2019, Pharoah adopted the dollar-value LIFO inventory method....
Pharoah Company manufactures one product. On December 31, 2019, Pharoah adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $1,050,000. Inventory data are as follows: Year 2020 2021 2022 Inventory at year-end prices $1,285,200 1,817,000 1,955,000 Price index (base year 2019) 1.05 1.15 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,...
Basking Company adopted the dollar-value LIFO method in 2018. At December 31, 2018, ending inventory was...
Basking Company adopted the dollar-value LIFO method in 2018. At December 31, 2018, ending inventory was $104,000, with a price index of 1.00, using dollar-value LIFO. At December 31, 2019, the ending inventory using FIFO is $122,000 and the price index is 1.18. Round all dollar amounts to the nearest dollar. Basking Company's ending inventory at December 31, 2019 on a dollar-value LIFO basis is ________. $104,000 $103,390 $103,280 $122,000
F. Aber company manufactures one product . On dec 31,2016 Aber adopted the dollar value LIFO...
F. Aber company manufactures one product . On dec 31,2016 Aber
adopted the dollar value LIFO Inventory method. The inventory on
that date using the dollar value LIFO inventory method was $900,000
Inventory data are as follows:
Year Inventory at year end prices Price index (base year
2016)
2016 . 900,000 1.00
2017 . 1,260,000 1.05
2018 . 1,840,000 1.15
2019 1,900,000 1.25
F1. Compute the inventory at december 31, 2017, 2018, 2019 using
the dollar value lifo method for...
Dollar-Value LIFO Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO...
Dollar-Value LIFO Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $400,000. Inventory data for succeeding years are as follows: Inventory at Respective Price Index Year Year-End Prices (Base Year 2018) 2019 $441,000 1.05 2020 540,500 1.15 2021 552,000 1.20 Required: Compute the ending Inventory using the dollar-value LIFO method for 2019, 2020, and 2021. Do not round your intermediate calculations....
Gross Corporation adopted the dollar-value
LIFO method of inventory valuation on December 31, 2016. Its
inventory at that date was $1100000 and the relevant price index
was 100. Information regarding inventory for subsequent years is as
follows: Date Inventory at Current Prices Current Price Index
December 31, 2017 $1284000 107 December 31, 2018 1450000 125
December 31, 2019 1625000 130 What is the cost of the ending
inventory at December 31, 2019 under dollar-value LIFO?
*PLEASE EXPLAIN IN DETAIL, LIKE...
Gross Corporation adopted the dollar-value
LIFO method of inventory valuation on December 31, 2013.
Information regarding inventory for 2013 and subsequent years is as
follows:DateInventory atCurrent PricesCurrentPrice IndexDecember
31, 2013$550,000100December 31, 2014642,000105December 31,
2015725,000110December 31, 2016812,500115What is the cost of the
ending inventory at December 31, 2016 under dollar-value LIFO?
13. Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Information regarding inventory for 2013 and subsequent years is as follows: Date December 31, 2013...
D is incorrect...
* Your answer is incorrect. Swifty Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1102000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Date December 31, 2020 December 31, 2021 December 31, 2022 Inventory at Current Current Prices Price Index $1286000 106 1449000 124 1627000 129 What is the cost of the ending inventory at December 31, 2021...
Coronado Industries adopted the dollar-value LIFO inventory method on December 31, 2017. Coronado's entire inventory constitutes a single pool. On December 31, 2017, the inventory was $969000 under the dollar-value LIFO method. Inventory data for 2018 are as follows: 12/31/18 inventory at year-end prices Relevant price index at year end (base year 2017)110 $1331000 Using dollar value LIFO, Coronado's inventory at December 31, 2018 is $1210000. $1065900. $133100o. O $1234100
Pharoah Company manufactures one product. On December 31, 2019, Pharoah adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $1,050,000. Inventory data are as follows: Year 2020 2021 2022 Inventory at year-end prices $1,285,200 1,817,000 1,955,000 Price index (base year 2019) 1.05 1.15 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,...
F. Aber company manufactures one product . On dec 31,2016 Aber
adopted the dollar value LIFO Inventory method. The inventory on
that date using the dollar value LIFO inventory method was $900,000
Inventory data are as follows:
Year Inventory at year end prices Price index (base year
2016)
2016 . 900,000 1.00
2017 . 1,260,000 1.05
2018 . 1,840,000 1.15
2019 1,900,000 1.25
F1. Compute the inventory at december 31, 2017, 2018, 2019 using
the dollar value lifo method for...
Dollar-Value LIFO Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $400,000. Inventory data for succeeding years are as follows: Inventory at Respective Price Index Year Year-End Prices (Base Year 2018) 2019 $441,000 1.05 2020 540,500 1.15 2021 552,000 1.20 Required: Compute the ending Inventory using the dollar-value LIFO method for 2019, 2020, and 2021. Do not round your intermediate calculations....
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