Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company adopted dollar-value lifo on january 1,2

A company adopted dollar-value LIFO on January 1,2024, when the inventory value...

60.1K

Verified Solution

Question

Accounting

A company adopted dollar-value LIFO on January 1,2024, when the inventory value was $367,000 and the cost index was 1.35. On December 31,2024, the inventory was valued at year-end cost of $402,000 and the cost index was 1.40. The company would report a LIFO inventory of:
Note: Round your final answer to the nearest whole dollar amount.
$387,615.
$382,207.
$388,407.
$418,607.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

4 5 10 H 570 Type your answer 1 point Lamar s house is 4...

Accounting
1.2K views

Problem 2 Speed Control Inc. Manufactures carburetors and uses a standard cost system. The standard factory overhead costs...

Statistics
1.2K views

In the following problem, check that it is appropriate to use the normal approximation to the...

Basic Math
1.2K views

2.Thirty GPAs from a randomly selected sample of statistics students at a college are linked below....

Biology
1.2K views

A C C C C C C Step 2 C C C C C C...

Physics
1.2K views

8 A uniform chain of length and mass moverhangs a smooth table with its two...

Physics
1.2K views

A conducting circular loop is placed in a uniform magnetic field of induction B tesla...

Physics
1.2K views

The potential difference V and the current I flowing through an instrument in an ac...

Geometry
1.2K views

List of Perfect Squares 4 9 16 25 36 49 64 81 100 Completely simplify...

Calculus
1.2K views

Evaluate the definite integral.0?1 cos(?t/2) dt0? 1 (1 + 7x)^(1/3) dx0? ?/6 sint/costdt

Accounting
1.2K views

Cules de los siguientes nombramientos externos no estn permitidos bajo ninguna circunstancia? Un rol...

Accounting
1.2K views

Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based...