Wildhorse Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. Inventory At Base-Year Cost At Current-Year Cost 1/1/20 $209,300 $209,300 12/31/20 226,200 248,820 12/31/21 281,300 320,682 Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2021? December 31, 2021 Price Index enter the price index Dollar-value LIFO inventory $enter a dollar amount Save for Later
Wildhorse Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. Inventory At Base-Year Cost At Current-Year Cost 1/1/20 $209,300 $209,300 12/31/20 226,200 248,820 12/31/21 281,300 320,682 Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2021? December 31, 2021 Price Index enter the price index Dollar-value LIFO inventory $enter a dollar amount Save for Later
Chapter1: Financial Statements And Business Decisions
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Wildhorse Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.
Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2021?
|
Inventory
|
At Base-Year
Cost |
At Current-Year
Cost |
||
|---|---|---|---|---|
| 1/1/20 | $209,300 | $209,300 | ||
| 12/31/20 | 226,200 | 248,820 | ||
| 12/31/21 | 281,300 | 320,682 |
Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2021?
|
December 31, 2021
|
||
|---|---|---|
| Price Index |
enter the price index
|
|
| Dollar-value LIFO inventory |
$enter a dollar amount
|
Save for Later
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