Sheridan Company manufactures one product. On December 31, 2019, Sheridan adopted the dollar-value LIFO inventory method. The in
ventory on that date using the dollar-value LIFO inventory method was $970,000. Inventory data are as follows
Year Inventory at
year-end prices Price index
(base year 2016)
2017 $1,260,000 1.05
2018 1,840,000 1.15
2019 1,900,000 1.25
Compute the inventory at December 31, 2017, 2018, and 2019, using the dollar-value LIFO method for each year.
Inventory at December 31, 2017 $Problem 161 Aber Company manufactures one product.
Inventory at December 31, 2018 $Problem 161 Aber Company manufactures one product.
Inventory at December 31, 2019
Year Inventory at
year-end prices Price index
(base year 2016)
2017 $1,260,000 1.05
2018 1,840,000 1.15
2019 1,900,000 1.25
Compute the inventory at December 31, 2017, 2018, and 2019, using the dollar-value LIFO method for each year.
Inventory at December 31, 2017 $Problem 161 Aber Company manufactures one product.
Inventory at December 31, 2018 $Problem 161 Aber Company manufactures one product.
Inventory at December 31, 2019
1 answer:
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Answer:
correct option is A. True
Explanation:
given data
economy grows = 3 percent
total factor productivity grows = 2 percent
labor force grows = 2 percent
labor contributes = 40 percent
stock of capital rise = 0.33 percent
solution
we apply here Economy growth % formula that is
Economy growth % = total factor productivity + labor contributes × labor force grows + ( 1- labor contributes ) stock of capital .............1
put here value
3% = 2% + 40% (2%) + 60% C
3% = 2.8 + 0.6 × C
C =
C = 33.33 %
so given statement is true