Book value
Cost of an asset-accumulated dep
97,600−82,000=15,600
So
18,000−15,600=2,400
a gain of $2,400.
Hope it helps
Answer:
Systematic approach
Explanation:
Systematic approach is the approach or method which is defined as the procedure used in determining or evaluating the project viability or the process grounded on the experimental application which state the repeatable steps as well as measured or evaluation of the outcomes.
This approach is used or followed as it helps in identifying the most efficient as well as effective means in order to generate optimum consequence as well as consistent.
So, in this case, the systematic approach is used in order develop the new product.
Answer:
125,200
Explanation:
Adjust inventory to base year prices:
= Cost of ending inventory ÷ cost index for the year
= $136400 ÷ 1.1
= $124,000
Current year LIFO layer:
= Adjust inventory to base year prices - Cost of beginning inventory
= $124,000 - $112,000
= $12,000
Inventory to be shown:
= Add the new LIFO layer at end of period prices to prior year LIFO inventory
= (112,000 × 1) + (12,000 × 1.1)
= 112,000 + 13,200
= 125,200