Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. undwr the lifo method, the inventory at december 3

undwr the lifo method, the inventory at December 31 should be?...

80.2K

Verified Solution

Question

Accounting

image
undwr the lifo method, the inventory at December 31 should be?
2. Bond Company adopted the dollar-value LIFO inventory method on January 1, 2018. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO: Cost Index Year 1/1/2018 12/31/2018 12/31/2019 Ending Inventory At Base At Current Cost Year Cost $306,000 $306,000 337,575 321,500 430,800 359,000 1.00 1.05 1.20

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

Physics
1.2K views

A lens produces a real image. Which is true? The lens must be a diverging lens. The...

Psychology
1.2K views

Explain the notion of “unconditional positive regard,” and discuss how this concept might operate in child...

General Management
1.2K views

The Buyer’s Experience Before starting, please read these instructions thoroughly. Purpose: To recognize common sales strategies and their effect...

Biology
1.2K views

Which of the following is NOT a benefit of the auto efill program Patients do...

Geometry
1.2K views

In the diagram below of AACT BET CB 3 C4 10 am CE 6 what...

Accounting
1.2K views

QUESTION 2 1 POINT For j(x) =...

Accounting
1.2K views

Lavage Rapide owns and operates a large automatic car wash near Montreal. The following table...

Accounting
1.2K views

Periodic Inventory by Three Methods Pappa's Appliances uses the periodic inventory system. Details regarding the...

Accounting
1.2K views

Journalize the following selected transactions for January. January 1 Issued common stock in exchange for...

Accounting
1.2K views

Suppose Macomb, a specialty clothing store, rents space at a local mall for one year,...

Accounting
1.2K views

"Cookie Creations" as a proprietorship. She then starts the process of getting the business running....

Accounting
1.2K views

Eli Orchid has designed a new pharmaceutical product, Orchid Relief, which improves the night sleep....