sweet Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that time the inventory had a cost of $63,000 and a retail price of $100,000. The following information is available. Year-EndInventory at Retail Current YearCost-Retail% Year-EndPrice Index 2024 $127.200 60% 106 2025 144.480 63% 112 2026 133.400 64% 115 2027 152,500 61% 125 The price index at January 1, 2024, is 100. Compute the ending inventory at December 31 of the years 2024-2027. (Round ratios for computational purposes to O decimal places, eg. 78% and final answers to O decimal places, eg. 28,987.) 2024 2025 2026 2027 Ending inventory avoid images in solution thnx
sweet Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that time the inventory had a cost of $63,000 and a retail price of $100,000. The following information is available. Year-EndInventory at Retail Current YearCost-Retail% Year-EndPrice Index 2024 $127.200 60% 106 2025 144.480 63% 112 2026 133.400 64% 115 2027 152,500 61% 125 The price index at January 1, 2024, is 100. Compute the ending inventory at December 31 of the years 2024-2027. (Round ratios for computational purposes to O decimal places, eg. 78% and final answers to O decimal places, eg. 28,987.) 2024 2025 2026 2027 Ending inventory avoid images in solution thnx
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 11P: Olson Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015....
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sweet Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that time the inventory had a cost of
$63,000 and a retail price of $100,000. The following information is available.
Year-EndInventory at Retail Current YearCost-Retail% Year-EndPrice Index
2024 $127.200 60% 106
2025 144.480 63% 112
2026 133.400 64% 115
2027 152,500 61% 125
The price index at January 1, 2024, is 100.
Compute the ending inventory at December 31 of the years 2024-2027. (Round ratios for computational purposes to O decimal places, eg.
78% and final answers to O decimal places, eg. 28,987.)
2024 2025 2026 2027
Ending inventory
avoid images in solution thnx
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