Duke Boudreau, Inc. decided to adapt Dollar Value LIFO in 2017, the following data represents DB's ending inventory along with the price index for each year: December 31 Price Index 2017 $200,000 2018 $206,000 2019 $250,000 2020 $275,000 2021 $290,000 2022 $300,000 100 102 110 115 120 121 Rounding all calculations to the nearest dollar, calculate Ending Inventory for December 31, 2022 using Dollar Value LIFO

Duke Boudreau, Inc. decided to adapt Dollar Value LIFO in 2017, the following data represents DB's ending inventory along with the price index for each year: December 31 Price Index 2017 $200,000 2018 $206,000 2019 $250,000 2020 $275,000 2021 $290,000 2022 $300,000 100 102 110 115 120 121 Rounding all calculations to the nearest dollar, calculate Ending Inventory for December 31, 2022 using Dollar Value LIFO

Name: Duke Boudreau, Inc. decided to adapt Dollar Value LIFO in 2017, the f
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Description: Duke Boudreau, Inc. decided to adapt Dollar Value LIFO in 2017, the following data represents DB'sending inventory along with the price index for each year:December 31Price Index2017 $200,0002018 $206,0002019 $250,0002020 $275,0002021 $290,0002022 $

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 12P: Dollar-Value LIFO Kwestel Company adopted the dollar-value LIFO method for inventory valuation at...

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Dollar-Value LIFO Kwestel Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015. The following information about the inventory at the end of each year is available from Kwestels records: Required: Calculate the dollar-value LIFO inventory at the end of each year. Round to the nearest dollar.
Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is the cost of ending inventory under FIFO at April 30? a. $32,500 b. $38,400 c. $63,600 d. $69,500
Olson Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015. The following information about the inventory at the end of each year is available from Olsons records: Required: 1. Calculate the dollar-value LIFO inventory at the end of each year. 2. Prepare the appropriate disclosures for the 2021 annual report if Olson uses current cost internally and LIFO for financial reporting.
The following information relates to the David Davis Company. Price Ending Inventory (End-of-Year Prices) Date Index December 31, 2016 $69,400 100 December 31, 2017 102,080 116 December 31, 2018 110,208 128 December 31, 2019 123,816 132 December 31, 2020 116,058 138 Use the dollar-value LIFO method to compute the ending inventory for Davis Company for 2016 through 2020. Ending Inventory 2016 %24 2017 %24 2018 %24 2019 %24 2020 %24
The following information relates to the Jimmy Johnson Company. Date Ending Inventory(End-of-Year Prices) PriceIndex December 31, 2016 $ 70,000 100 December 31, 2017 90,300 105 December 31, 2018 95,120 116 December 31, 2019 105,600 120 December 31, 2020 100,000 125 Instructions Use the dollar-value LIFO method to compute the ending inventory for Johnson Company for 2016 through 2020.
Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Oasis' records. Date PriceIndex Ending Inventory at Base Prices Ending Inventoryat Dollar-Value LIFO December 31, 2020 105 $92,000 $92,600 December 31, 2021 ? 97,000 98,350 Instructions Calculate the index used for 2021 that yielded the above results.
Patel Company adopted the dollar-value inventory method on 12/31 / 20 . Inventory data are as follows: Inventory Price Year at Yr End Index 2020 5,785 1.00 2021 9,2501.23 202211,225 1.36 20238,575 1.25 2024 16,425 1.40 Instructions : Calculate the inventory for must show your work . 20, 2021, 2022, 20 and 2024.
Presented below is information related to Nash Company. Date Ending Inventory(End-of-Year Prices) PriceIndex December 31, 2017 $ 73,200 100 December 31, 2018 128,876 116 December 31, 2019 124,608 132 December 31, 2020 140,426 143 December 31, 2021 168,476 154 December 31, 2022 199,520 160 Compute the ending inventory for Nash Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $enter a dollar amount 2018 $enter a dollar amount 2019 $enter a dollar amount 2020 $enter a dollar amount 2021 $enter a dollar amount 2022 $enter a dollar amount
The following information relates to the Brian Lee Company. Date Date Ending Inventory (End-of-Year Prices) price index December 31, 2021 65600 100 December 31, 2022 118040 130 December 31, 2023 127728 December 31, 2024 143636 December 31, 2025 133765 Use the dollar-value LIFO method to compute the ending inventory for Lee Company for 2021 through 2025. 144 149 155
Presented below is information related to Blue Company. Date Ending Inventory(End-of-Year Prices) PriceIndex December 31, 2017 $ 77,200 100 December 31, 2018 249,951 221 December 31, 2019 248,472 252 December 31, 2020 280,098 273 December 31, 2021 336,630 294 December 31, 2022 401,685 305 Compute the ending inventory for Blue Company for 2017 through 2022 using the dollar-value LIFO method. Ending Inventory 2017 $enter a dollar amount 2018 $enter a dollar amount 2019 $enter a dollar amount 2020 $enter a dollar amount 2021 $enter a dollar amount 2022 $enter a dollar amount
Presented below is information related to Dino Radja Company. Date Ending Inventory(End-of-Year Prices) PriceIndex December 31, 2017 $ 80,000 100 December 31, 2018 115,500 105 December 31, 2019 108,000 120 December 31, 2020 122,200 130 December 31, 2021 154,000 140 December 31, 2022 176,900 145 Instructions Compute the ending inventory for Dino Radja Company for 2017 through 2022 using the dollar-value LIFO method.
Kingbird Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Kingbird's records. Price Ending Inventory Date Index at Base Prices Ending Inventory at Dollar-Value LIFO December 31, 2025 105 $92,700 $86,600 December 31, 2026 ? 97,700 92,150 Calculate the index used for 2026 that yielded the above results. Index used for 2026