On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows: Year Current Cost Index 2018 $36,400 100 2019 50,880 120 2020 52,780 130 2021 62,720 140 Required: Compute the ending inventory for the years 2018, 2019, 2020, and 2021, using the dollar-value LIFO method. Year Ending inventory 2018 $ 2019 $ 2020 $ 2021 $

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A: Ending inventory refers to the value of stock lying with the entity at the end of the reporting…

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A: The inventory can be valued using various methods as FIFO, LIFO and average method. LIFO methods…

Q: Dollar-Value LIFO On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory…

A: Using LIFO method, the newer inventory is sold first. The older inventory is left in the stock. The…

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A: Inventory valuation is a method used by the organisation to evaluate the total value of goods held…

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A: LIFO is last in first out method means inventory bought last is sold first.Inventory means the…

Q: ts one inventory pool were as follows: ding Inventory at Cost Index (Relative to Year-End Costs $…

A: Businesses may make well-informed decisions regarding pricing, manufacturing, purchasing, and…

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A: LIFO is last in first method that is used for inventory valuation. This says that inventory which is…

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A: Introduction:- LIFO means last in first out. "Ending Inventory" is the stock or inventory remain…

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A: Ending inventory at cost refers to the value of goods held by a company at the end of an accounting…

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Q: 2) Golden Products, Inc. adopted the dollar-value LIFO method of computing inventory on January 1,…

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A: Computation of inventory values at December 31st 2019,2020,2021 are shown below :

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A: Inventory held by a corporation may have a different historical cost than its present market worth.…

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Q: Dollar-Value LIFO On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory…

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Q: Give me correct answer and explanation.vd

A: Part 2: Explanation:Step 1: Calculate the ending inventory at cost for each year by dividing the…

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A: The inventory can be valued using various methods as FIFO, LIFO and average method. LIFO method…

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A: SOLUTION-                                   COST OF GOODS AVAILABLE FOR SALE      DATE…

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A: As per LIFO method, records the most recently produced items as sold first.LIFO means. last in first…

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A: ACCOUNTING STANDARDS - 2   Objective of this standard is to formulate the method of computation of…

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A: LCNRV: Inventory is valued at lower of cost or net realisable value

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A: Hi student Since there are multiple questions, we will answer only first question.

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A: LIFO stands for "Last-In, First-Out." It is an inventory valuation method used in accounting to…

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A: Inventory includes all the items, merchandise, and raw materials that are used by the business…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.