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

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Description: Multiple Choice$125,400$101,800$126.580$131.400Next>...< Prev12 of 15 HelpSave & ExitOn January 1, 2021, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $101,800. The ending inventoryvalued at year-end costs, an

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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On January 1, 2024, a Company adopted the dollar-value LIFO method for its one inventory pool. The pool’s value on this date was $750,000. The 2024 and 2025 ending inventory valued at year-end costs were $793,000 and $882,000, respectively. The appropriate cost indexes are 1.04 for 2024 and 1.05 for 2025. Required: Complete the below table to calculate the inventory value at the end of 2024 and 2025 using the dollar-value LIFO method. Note: Round "Year end cost index" to 2 decimal places. Round other final answer values to the nearest whole dollars.
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On January 1, 2019, Lexor Company adopted the dollar-value-LIFO method of inventory costing. Lexor's ending inventory records appear as follows: Year Current cost Index 2019 $ 42,000 100 (1.00) 2020 58,000 110 (1.10) 2021 60,100 120 (1.20) 2022 68,200 130 (1.30) Compute the ending inventory for the years 2019, 2020, 2021, and 2022, using the dollar-value LIFO method. Round to the nearest dollar. Show all work. You can use the previous homework template that you used for
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A company adopted dollar - value LIFO on January 1, 2024, when the inventory value was $367,000 and the cost index was 1.35. On December 31, 2024, the inventory was valued at year-end cost of $402,000 and the cost index was 1.40. The company would report a LIFO inventory of: Note: Round your final answer to the nearest whole dollar amount.
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