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...

70.2K

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 At Base Cost Year Cost Year Cost Index 1/1/2018 $302,000 $302,000 1.00 12/31/2018 351,000 325,000 353,000 1.08 12/31/2019 427,130 1.21 Under the dollar-value LIFO method, the inventory at December 31, 2019, should be Multiple Choice $360,720. $353.000. 354 RAn

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

The rate of disintegration of a radioactive substance falls from 800 decay min to 100...

Physics
Q

A For the graph given a Give the interval s where the function is increasing...

Calculus
Q

10 9 X g x 4 3 J 4 10 2 A 7 6 5...

Algebra
Q

Wildhorse Corporation started business in 2020 by issuing 190000 shares of $19 par common stock...

Accounting
Q

Brief Exercise G-23 Pina Colada Corp. purchased a new blending machine for $3,400.08. It paid...

Accounting
Q

could you show the excel formulas aswell please Zintal Bind -...

Accounting
Q

Chester began depreciating the building over the newly revised total life of 34 years and...

Accounting
Q

In a book named Treasure, the reader has to figure out where a 2.2 pound,...

Accounting
Q

The following transactions occurred for Mouawad Inc. 1. Inventory costing $296,000...

Accounting
Q

Company A's for 2018 had $43,748.67M in Sales, $33,744.31M Cost of Goods Sold. The Inventory...

Finance
Q

Local government uses a fund structure of accounting. Describe the structure and why it is...

Accounting
Q

A 15-year bond with a face value of $1,000 currently sells for $850. Which of...

Finance