On December 31, 2021, Barbapapa Company adopted the dollar-value LIFO inventory method. Inventory at the...
90.2K
Verified Solution
Link Copied!
Question
Accounting
On December 31, 2021, Barbapapa Company adopted the dollar-value LIFO inventory method. Inventory at the end of 2021 for its only inventory pool was $600,000. At the end of 2022, inventory at year-end cost is $806,400 and the cost index is 1.05. Inventory at the end of 2022 at dollar-value LIFO cost is: a. $750,000 b. $768,000 c. $806,400 d. $776,400. Please explain answer
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!
