Inventory Pools Stone Shoe Company adopted dollar-value LIFO on January 1, 2019. The company produces four products and uses a single inventory pool. The company's beginning inventory consists of the following: Type Quantity Cost per Unit Total Cost Running $16 Tennis 15 14 17 80,000 30,000 Basketball 60,000 Soccer 40,000 210,000 During 2019, the company has the following purchases and sales: Selling Price per Unit Quantity Type Purchased Cost per Unit Quantity Sold Running $19 Tennis 16 14 18 Basketball Soccer $1,280,000 450,000 840,000 680,000 $3,250,000 150,000 130,000 100,000 120,000 500,000 140,000 100,000 90,000 140,000 470,000 $40 38 37 42 Required: 1. Compute the dollar-value LIFO cost of the ending inventory. Round the cost index to 4 decimal places and all

Inventory Pools Stone Shoe Company adopted dollar-value LIFO on January 1, 2019. The company produces four products and uses a single inventory pool. The company's beginning inventory consists of the following: Type Quantity Cost per Unit Total Cost Running $16 Tennis 15 14 17 80,000 30,000 Basketball 60,000 Soccer 40,000 210,000 During 2019, the company has the following purchases and sales: Selling Price per Unit Quantity Type Purchased Cost per Unit Quantity Sold Running $19 Tennis 16 14 18 Basketball Soccer $1,280,000 450,000 840,000 680,000 $3,250,000 150,000 130,000 100,000 120,000 500,000 140,000 100,000 90,000 140,000 470,000 $40 38 37 42 Required: 1. Compute the dollar-value LIFO cost of the ending inventory. Round the cost index to 4 decimal places and all

Name: Inventory PoolsStone Shoe Company adopted dollar-value LIFO on Januar
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Description: Inventory PoolsStone Shoe Company adopted dollar-value LIFO on January 1, 2019. The company produces four products and uses asingle inventory pool. The company's beginning inventory consists of the following:Type Quantity Cost per Unit Total CostRun

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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