Solution-Compute the amount of the inventory at december 31

Compute the amount of the inventory at december 31

Reference no: EM131114352

1. Dollar-Value LIFO The dollar-value LIFO method was adopted by King Corp. on January 1, 2010. Its inventory on that date was $160,000. On December 31, 2010, the inventory at prices existing on that date amounted to $151,200. The price level at January 1, 2010, was 100, and the price level at December 31, 2010, was 112.

(a) Compute the amount of the inventory at December 31, 2010, under the dollar-value LIFO method.

(b) On December 31, 2011, the inventory at prices existing on that date was $195,500, and the price level was 115. Compute the inventory on that date under the dollar-value LIFO method.

Reference no: EM131114352

Questions Cloud

Determine which designs differ in mean distances : Do the results in question 1 indicate that it is appropriate to use the Tukey-Kramer procedure to determine which designs differ in mean distances?

Find the current i1 through the 20-? resistor of the circuit : Find the current I1 through the 20-Ω resistor of the circuit of Figure P2.2.8 by both mesh and nodal analyses.

Determine the index of i"s parent and each of i"s d children : A d-ary tree is a generalization of a binary tree in which each internal node has d children. Using Eytzinger"s method it is also possible to represent complete d-ary trees using arrays. Work out the equations that, given an index i, determine th..

Determine the voltage across the 1-a current : By using the mesh-current method, determine the voltage across the 1-A current source of the circuit of Figure P2.2.7, and verify by nodal analysis.

Compute the amount of the inventory at december 31 : On December 31, 2011, the inventory at prices existing on that date was $195,500, and the price level was 115. Compute the inventory on that date under the dollar-value LIFO method.

How many square kilometers of land did she purchase : Buying a House. Sadaf Din is purchasing a house selling for $215,000. To obtain her mortgage, Sadaf must make a 20% down payment. The current mortgage rate is 4.5%. Determine the amount of the required down payment.

Determine the current i through the 10-? resistor : Determine the current I through the 10-Ω resistor of the circuit of Figure P2.2.5 by employing the node-voltage method. Check by mesh analysis.

Develop a menu driven console java program : Develop a Menu Driven Console Java Program to demonstrate you can use Java constructs including input/output via GUI dialogs, Java primitive and built-in types, Java defined objects, arrays, selection and looping statements and various other Java ..

Was the new mba a good hire : which is presented below, to determine the amount of cash Eastern Trading needs to hold in precautionary balances under its current decentralized system and the level of precautionary cash it would need to hold under a centralized system. Was the new..

User Account

All Pages

Compute the amount of the inventory at december 31

Reference no: EM131114352

Reference no: EM131114352

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT