Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. dollar-value lifo on december 31, 2018, kern compa

Dollar-Value LIFO On December 31, 2018, Kern Company adopted the dollar-value LIFO inventory method. All...

90.2K

Verified Solution

Question

Accounting

Dollar-Value LIFO On December 31, 2018, Kern Company adopted the dollar-value LIFO inventory method. All of Kern's inventories constitute a single pool. The inventory on December 31, 2018, using the dollar-value LIFO inventory method was $600,000. Inventory data for 2019 are as follows: Dec. 31, 2019 inventory at year-end prices $780,000 Relevant cost index at year-end (base year 2018) 120 Under the dollar-value LIFO inventory method, Kern's inventory method, Kern's inventory on December 31, 2019, would be: (Do not round your intermediate calculations.) a. $660,000 b. $655,000 c. $720,000 d. $650,000

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

Chemistry
1.2K views

Solid HgO, liquid Hg, and gaseous O2 are placed in a glass bulb and the reaction...

Medical Sciences
1.2K views

If an autoimmune condition affects Type 3 immunity, therapies such as anti-IL-17 or anti-IL-23 may be...

Biology
1.2K views

900 l 100 ul 500 CD Why 900 l 100 50 100 E l 5...

Physics
1.2K views

The electric field at 40 cm from centre of a charged conducting sphere of radius...

Geometry
1.2K views

Question 9 In AABC and ADEF find the missing side DF in the triangle DEF...

Basic Math
1.2K views

Which best describes the type of Winner defined by the following The candidate that received...

Calculus
1.2K views

The function f x 3x 7 e has one critical number Find the critical numbe...

Accounting
1.2K views

13 ! Part 1 of 4 Required Information [The following information applies to the questions...

Accounting
1.2K views

4. What is the total of Fedexs financing lease costs in fiscal year 2023? 5....

Accounting
1.2K views

on a excel work sheet : Calculate the taxable income for Kiera Kennedy for 2017...

Accounting
1.2K views

7) Mark Manufacturing had a product design that resulted in a $740 full cost of...

Accounting
1.2K views

DRIPs. Eastern Railroad has a dividend reinvestment plan for shareholders. From 2010 to 2014, the...