Help Save & Exit On January 1, 2021, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $101,800. The ending inventory, valued at year-end costs, and the relative cost index for each of the next three years is below: Ending inventory at year-end costs $131, 670 Year-end Cost Index 2021 1.05 2022 150,920 1.10 2023 161, 160 1.20 What inventory balance should Badger report on its 12/31/2021 balance sheet? Multiple Cholce $125,400
Help Save & Exit On January 1, 2021, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $101,800. The ending inventory, valued at year-end costs, and the relative cost index for each of the next three years is below: Ending inventory at year-end costs $131, 670 Year-end Cost Index 2021 1.05 2022 150,920 1.10 2023 161, 160 1.20 What inventory balance should Badger report on its 12/31/2021 balance sheet? Multiple Cholce $125,400
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 16E: Dollar-Value LIFO A company adopted the LIFO method when its inventory was 1,800. One year later its...
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