Please do not give solution in image format thanku Dollar-Value LIFO RetailIntella Inc. adopted the dollar-value retail LIFO method on January 1, 2018. The following data apply to the 4 subsequent years:CostCostRetail$40,000$117,600 $280,00085,500260,000320,000300,000Retail$80,000 2020 Purchases190,000Sales200,000 2021 Purchases230,000Sales210,000In addition, the following price indexes are available:2018 Inventory, January 1PurchasesSales2019 PurchasesSalesJanuary 1, 2018December 31, 2018December 31, 2019Required:Ending inventory92,000Feedback100 December 31, 2020105December 31, 2021110Compute the inventory at the end of each of the 4 years. Round the cost-to-retail ratio to 3 decimal places and the final answers to thenearest dollar.2018147,200201912012520202021

Name: Please do not give solution in image format thanku Dollar-Value LIFO R
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Description: Please do not give solution in image format thanku Dollar-Value LIFO RetailIntella Inc. adopted the dollar-value retail LIFO method on January 1, 2018. The following data apply to the 4 subsequent years:CostCostRetail$40,000$117,600 $280,00085,500260

Cost-to-retail ratio=Ccost of goods available for saleRetail value of goods available for sale×100

Business

Accounting

Dollar-Value LIFO Retail Intella Inc. adopted the dollar-value retail LIFO method on January 1, 2018. The following data apply to the 4 subsequent years: Cost Retail $117,600 $280,000 260,000 320,000 300,000 2018 Inventory, January 1 Purchases Sales 2019 Purchases Sales Cost Retail $40,000 $80,000 2020 Purchases 85,500 190,000 Sales 200,000 2021 Purchases 230,000 Sales 210,000 92,000 - In addition, the following price indexes are available: Ending inventory January 1, 2018 December 31, 2018 December 31, 2019 Required: Compute the inventory at the end of each of the 4 years. Round the cost-to-retail ratio to 3 decimal places and the final answers to the nearest dollar. 100 December 31, 2020 105 December 31, 2021 110 2018 147,200 2019 120 125 2020 2021

Dollar-Value LIFO Retail Intella Inc. adopted the dollar-value retail LIFO method on January 1, 2018. The following data apply to the 4 subsequent years: Cost Retail $117,600 $280,000 260,000 320,000 300,000 2018 Inventory, January 1 Purchases Sales 2019 Purchases Sales Cost Retail $40,000 $80,000 2020 Purchases 85,500 190,000 Sales 200,000 2021 Purchases 230,000 Sales 210,000 92,000 - In addition, the following price indexes are available: Ending inventory January 1, 2018 December 31, 2018 December 31, 2019 Required: Compute the inventory at the end of each of the 4 years. Round the cost-to-retail ratio to 3 decimal places and the final answers to the nearest dollar. 100 December 31, 2020 105 December 31, 2021 110 2018 147,200 2019 120 125 2020 2021

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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