Winnebago Industries, Inc. is a leading manufacturer of motor homes. Suppose Winnebago reported ending inventory at August 29, 2022, of $45,343,000 under the LIFO inventory method. In the notes to its financial statements, assume Winnebago reported a LIFO reserve of $31,400,000 at August 29, 2022. What would Winnebago Industries' ending inventory have been if it had used FIFO?
Winnebago Industries, Inc. is a leading manufacturer of motor homes. Suppose Winnebago reported ending inventory at August 29, 2022, of $45,343,000 under the LIFO inventory method. In the notes to its financial statements, assume Winnebago reported a LIFO reserve of $31,400,000 at August 29, 2022. What would Winnebago Industries' ending inventory have been if it had used FIFO?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Winnebago Industries, Inc. is a leading manufacturer of motor homes. Suppose Winnebago reported ending inventory at August 29, 2022, of $45,343,000 under the LIFO inventory method. In the notes to its financial statements, assume Winnebago reported a LIFO reserve of $31,400,000 at August 29, 2022.
What would Winnebago Industries' ending inventory have been if it had used FIFO?
| 2022 ending inventory assuming FIFO |
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