Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. oracle company had january 1 inventory of $300,000

Oracle Company had January 1 inventory of $300,000 when it adopted dollar-value LIFO. During the...

50.1K

Verified Solution

Question

Accounting

Oracle Company had January 1 inventory of $300,000 when it adopted dollar-value LIFO. During the year, purchases were $1,800,000 and sales were $3,000,000. December 31 inventory at year-end prices was $385,000, and the price index was 110. How much is Oracle's gross profit? $1,255,000 $2,645,000 O $1,250,000 $1,285,000

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

Was B.F Skinner just a cool scientist who based his opinions only on observable behavior or...

Psychology
Q

IS TO AS IS TO City Boss Which of the following BEST completes the analogy...

Biology
Q

Find the midpoint of the segment between the points (3, 17) and (-14,-8)A. (-11/2, 9/2)B....

Geometry
Q

Suppose thirteen people qualify for a college cheerleading squad, eight are men and 5 are...

Basic Math
Q

le 4 Normal Probability Distribution Homew O Points 0 of 1 The mean percent of...

Statistics
Q

a If given an approximately normal distribution with mean of 159 and a standard deviation...

Statistics
Q

4 Please write as a decimal 2 10

Calculus
Q

State whether the function is continuous at the given x values Justify your answers sqvt...

Calculus
Q

A partially completed pension spreadsheet showing the relationships among the elements...

Accounting
Q

I need help in preparing the T-Accounts, Trial Balance, Income Statement, Owner's Equity, and Balance...

Accounting
Q

looking for the calculations for part 2 of schedule C. ...

Accounting
Q

S 11-19 (Static) Preparing stockholders equity section LO P1, C2, P3 On December 31, Westworld...

Accounting