On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $108,000. The 2016 ending inventory, valued at year-end costs, was $132,300. The relative cost index for this inventory in 2016 was 1.08. What inventory balance should Badger report on its 12/31/16 balance sheet? Multiple Choice $123,660 $122,500 $108,000

On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $108,000. The 2016 ending inventory, valued at year-end costs, was $132,300. The relative cost index for this inventory in 2016 was 1.08. What inventory balance should Badger report on its 12/31/16 balance sheet? Multiple Choice $123,660 $122,500 $108,000

Name: A On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method
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Description: A On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventorycost on this date was $108,000. The 2016 ending inventory, valued at year-end costs,was $132,300. The relative cost index for this inventory in 2016 was 1.08.What in

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 14RE: On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventory costing....

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Dollar-Value LIFO Kwestel Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015. The following information about the inventory at the end of each year is available from Kwestels records: Required: Calculate the dollar-value LIFO inventory at the end of each year. Round to the nearest dollar.
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On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventory costing. Dorsos December 31 ending inventory records are as follows: Year 1: Current cost, 20,000; Index, 100 Year 2: Current cost, 33,600; Index, 120 Using the dollar-value LIFO method, compute Dorsos December 31 ending inventory for Year 2.
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