Current Attempt in Progress Marigold Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1102000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Inventory at Cukrent Date Current Prices Price Index December 31, 2020 $1285000 107 December 31, 2021 1441000 125 December 31, 2022 1623000 130 What is the cost of the ending inventory at December 31, 2021 under dollar-value LIFO? O $1156356. O $1152800. O $1149800. O $1200935.
Current Attempt in Progress Marigold Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1102000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Inventory at Cukrent Date Current Prices Price Index December 31, 2020 $1285000 107 December 31, 2021 1441000 125 December 31, 2022 1623000 130 What is the cost of the ending inventory at December 31, 2021 under dollar-value LIFO? O $1156356. O $1152800. O $1149800. O $1200935.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Current Attempt in Progress
Marigold Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was
$1102000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows:
Inventory at
Cukrent
Date
Current Prices
Price Index
December 31, 2020
$1285000
107
December 31, 2021
1441000
125
December 31, 2022
1623000
130
What is the cost of the ending inventory at December 31, 2021 under dollar-value LIFO?
O $1156356.
O $1152800.
O $1149800.
O $1200935.
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Transcribed Image Text:Question 20 of 50
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Current Attempt in Progress
Marigold Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was
$1102000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows:
Inventory at
Cukrent
Date
Current Prices
Price Index
December 31, 2020
$1285000
107
December 31, 2021
1441000
125
December 31, 2022
1623000
130
What is the cost of the ending inventory at December 31, 2021 under dollar-value LIFO?
O $1156356.
O $1152800.
O $1149800.
O $1200935.
Save for Later
Attempts: 0 of 2 used
Submit Answer
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