Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. bond company adopted the dollar-value lifo invento

Bond Company adopted the dollar-value LIFO inventory method on January 1, 2018. In applying the...

50.1K

Verified Solution

Question

Accounting

image

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: Ending Inventory At Current Cost $302,000 At Base Year Cost $302,000 Cost Year Index 1/1/2018 12/31/2018 348,820 12/31/2019 436,760 1.00 326,0001.07 1.22 358,000 Under the dollar-value LIFO method, the inventory at December 31, 2019, should be

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

Q

Discuss how the subprime mortgage crisis of 2007 was based upon the flawed financial model that...

Finance
Q

10. A woman with average height, and type A- blood, and a man with type B+...

Biology
Q

The desire for stability, involvement, belief, and conformity can have a dark side. Consider how mechanisms...

Psychology
Q

Excel Online Structured Activity: New project analysis You must evaluate the purchase of a proposed spectrometer...

Finance
Q

ntervals Questi Pa In a survey of 3307 adults 147 Construct a 99 confidence int

Basic Math
Q

Determine whether the following statements are true and give an explanation or counterexample a A...

Calculus
Q

2 Identify the value for x that is not a solution to the inequality 4...

Algebra
Q

Question 20 (6 points) Zebra Company's flexible budget for 100,000 units of production showed...

Accounting
Q

Ramer and Knox began a partnership by investing $72,000 and $102,000, respectively. The partners agreed...

Accounting
Q

In September direct labor was 40% of conversion cost. If the manufacturing overhead for the...

Accounting
Q

2) Under the equity method, cash dividends received on common stock is a source of...

Accounting
Q

Which of the following items will result in an increase in gross income? a) receipt...

Accounting