NCR Corporation adopted the dollar-value LIFO method on January 1, 2023. The inventory cost on this date was $101.900. 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 Year-end 2023 $ 2024 2025 131.985 151.360 161.580 $126,890 O $131.700 $101.900 $125,700 Cost Index 1.05 1.10 1:20 What inventory balance should NCR Corporation report on its 12/31/2023 balance sheet?
NCR Corporation adopted the dollar-value LIFO method on January 1, 2023. The inventory cost on this date was $101.900. 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 Year-end 2023 $ 2024 2025 131.985 151.360 161.580 $126,890 O $131.700 $101.900 $125,700 Cost Index 1.05 1.10 1:20 What inventory balance should NCR Corporation report on its 12/31/2023 balance sheet?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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