Please do not give solution in image format thanku On December 31, 2021, the inventory at prices existing on that date was $399,510, and the price level was 115. Computethe inventory on that date under the dollar-value LIFO method.Inventory 12/31/21 under dollar-value LIFO method$ The dollar-value LIFO method was adopted by Kingbird Corp. on January 1, 2020. Its inventory on that date was $379,400. OnDecember 31, 2020, the inventory at prices existing on that date amounted to $358,400. The price level at January 1, 2020,was 100, and the price level at December 31, 2020, was 112.

Name: Please do not give solution in image format thanku On December 31, 202
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Description: Please do not give solution in image format thanku On December 31, 2021, the inventory at prices existing on that date was $399,510, and the price level was 115. Computethe inventory on that date under the dollar-value LIFO method.Inventory 12/31/21

The Dollar Value LIFO (Last-In, First-Out) method is an inventory valuation method used in…

Business

Accounting

On December 31, 2021, the inventory at prices existing on that date was $399,510, and the price level was 115 the inventory on that date under the dollar-value LIFO method. Inventory 12/31/21 under dollar-value LIFO method $

On December 31, 2021, the inventory at prices existing on that date was $399,510, and the price level was 115 the inventory on that date under the dollar-value LIFO method. Inventory 12/31/21 under dollar-value LIFO method $

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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