Visno Whispering Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that time the inventory had acost of $53,000 and a retail price of $100,000. The following information is available.2024202520262027Year-EndInventory at Retail$130,540144,300125,400167,500EndinginventoryCurrent YearCost-Retail%60%202456%57%54%Year-EndPrice Index107111114The price index at January 1, 2024, is 100.Compute the ending inventory at December 31 of the years 2024-2027. (Round ratios for computational purposes to 0 decimal places, e.g.78% and final answers to O decimal places, e.g. 28,987.)1252025$2026SA2027

Name: Visno Whispering Corporation adopted the dollar-value LIFO retail inve
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Visno Whispering Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that time the inventory had acost of $53,000 and a retail price of $100,000. The following information is available.2024202520262027Year-EndInve

DVL stands for dollar value LIFO method. LIFO stands for Last In first out. Using LIFO, the newer…

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Accounting

Whispering Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that time the inventory had cost of $53,000 and a retail price of $100,000. The following information is available. 2024 2025 2026 2027 Year-End Inventory at Retail $130,540 144,300 125,400 167,500 Current Year Cost-Retail % 60% 56% 57% 54% Year-End Price Index 107 111 114 125 The price index at January 1, 2024, is 100. Compute the ending inventory at December 31 of the years 2024-2027. (Round ratios for computational purposes to 0 decimal places, e 70% 30.0071