Main Co. began its manufacturing business last year. Main uses the dollar-value LIFO method to...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Main Co. began its manufacturing business last year. Main uses the dollar-value LIFO method to determine the value of its inventory. Mains inventory was valued at $100,000 at the end of last year, and, using current costs, $132,000 at the end of the current year. The prices for Mains inventory during the current year were 20% higher than last years prices. What amount should Main report as inventory on its balance sheet at the end of the current year
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.