Marigold Company adopted the dollar-value LIFO method on January 1, 2017 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. At Base-Year At Current-Year Inventory Cost Cost 1/1/17 $185,300 $185,300 12/31/17 247,800 272,580 12/31/18 272,800 305,536 Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2018? December 31, 2018 Price Index Dollar-value LIFO inventory

Q: Under the dollar-value LIFO method, increases and decreases in an inventory pool are determined and…

A: Lets understand the basics. In dollar value LIFO method, inflation adjustment is considered to…

Q: What does inventories /sales ratio mean?

A: An accounting metric used to measure liquidity, solvency, efficiency etc. of a business entity is…

Q: How do you measure gross margin return on inventory(GMROI)?

A: GMROI is a measure of inventory profitability where, it measures how much profit does the sales…

Q: Explain an example of dollar value LIFO retail method.

A: Under this method, goods are combined into pools and all increases and decreases in a pool are…

Q: What is inventory turnover Ratio? Explain its significance.

A: Explain the meaning of inventory turnover ratio and its significance:Inventory turnover ratio:…

Q: Describe diff erent inventory valuation methods (cost formulas).

A: The manner in which an organization calculates the product costs (inventory value assessment)…

Q: What is inventory turnover ratio?

A: Inventory:   It can be described as a good or material that a company holds for the purpose of…

Q: List price × trade discount rate = amount of trade discount. true or false

A: The question is related to true or false.

Q: Identify that if prices are rising, which inventory cost flow method will produce the highest amount…

A: solution Identify that if prices are rising, which inventory cost flow method will produce the…

Q: Explain the NCREIF retail index?

A: NCREIF retail index: The NCREIF Retail Index may be a quarterly term arrangement list of entire…

Q: Should inventory be measured initially at its market value or at cost?

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: How to calculate total selling expense

A: Selling expenses are the expenses incurred to sell a product to the customer.

Q: what about (g) inventory ?

A: Days in inventory ratio shows the number of days for which inventory remains unsold before it is…

Q: Define inventory shrinkage.

A:

Q: Write out the formula for the total costs of carrying and ordering inventory, and then use…

A: The formula for the total costs of carrying and ordering inventory and using the formula to derive…

Q: Suppose Fine Chocolates Co. estimates bad debt under the aging method. Before adjusting entries at…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Briefly explain the usefulness of the inventory figure resulting from the application of lower of…

A: Net Realizable Value(NRV) refers to the inventory value which a business entity can realize from…

Q: What impact has a JIT inventory system on operating income?

A: JIT or just-in-time is a stock administration technique in which material, labor and products (to be…

Q: What does a very high inventory turnover ratio signify? Please provide your own example to explain…

A: Inventory turnover ratio is one of the efficiency ratio, which says and calculates how many times…

Q: net income

A: Net income is stated in the income statement of the company that is calculated by deducting the…

Q: factors affect inventory turnover ratio

A: The inventory turnover ratio is a financial ratio. It is the rate at which a company is managing its…

Q: 17. Models of inventory systems frequently consider the relationships among a beginning inventory, a…

A: The objective of the question is to establish a mathematical relationship between the beginning…

Q: An example of a frequency distribution was a:    A.inventory analysis B.accounts receivable aging…

A: Frequency distribution analysis:- A frequency distribution is a representation, either in a…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.