24. Del Bosque Co. began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years in end-of-year dollars was S100,000 and S150,000 and the year-end price indices were 1.0 and 1.2, respectively. Assuming the current İnventory at end of year prices equals $215,000 and the index for the current year is 1.25, what is the ending inventory using dollar-value LIFO? a. $177,500 b. $186,400. c. $190,000. d. $188,750.

SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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24. Del Bosque Co. began using dollar-value LIFO for costing its inventory two years ago. The
ending inventory for the past two years in end-of-year dollars was S100,000 and S150,000 and
the year-end price indices were 1.0 and 1.2, respectively. Assuming the current İnventory at end
of year prices equals $215,000 and the index for the current year is 1.25, what is the ending
inventory using dollar-value LIFO?
a. $177,500
b. $186,400.
c. $190,000.
d. $188,750.
Transcribed Image Text:24. Del Bosque Co. began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years in end-of-year dollars was S100,000 and S150,000 and the year-end price indices were 1.0 and 1.2, respectively. Assuming the current İnventory at end of year prices equals $215,000 and the index for the current year is 1.25, what is the ending inventory using dollar-value LIFO? a. $177,500 b. $186,400. c. $190,000. d. $188,750.
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