1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
djyliett [7]
2 years ago
9

On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory po

ol on this date was $310,000. An internally generated cost index is used to convert ending inventory to base year. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended Inventory Cost Index December 31 Year-End Costs (Relative to Base Year) 2021 $ 408,450 1.05 2022 420,740 1.09 2023 478,500 1.10 2024 513,585 1.13 Required: Calculate inventory amounts at the end of each year
Business
1 answer:
Mama L [17]2 years ago
5 0

Answer:

Avondale Lumber

Calculation of Inventory Amounts at the end of each year:

= Inventory cost divided by the Index:

2021:    = $408,450/1.05 = $389,000

2022:   = $420,740/1.09 = $386,000

2023:   = $478,500/1.10  = $435,000

2024:   = $513,585/1.13   = $454,500

Explanation:

a) Data and Calculations:

Year Ended           Inventory Cost     Index     Year-End Costs

                                                                         (Relative to Base Year)

2021                         $ 408,450         1.05        $389,000 (408,450/1.05)

2022                           420,740          1.09       $386,000 (420,740/1.09)

2023                           478,500          1.10        $435,000 (478,500/1.10)

2024                           513,585           1.13       $454,500 (513,585/1.13)

b) The conversion of the ending inventory cost to the base year with an index is obtained by dividing the inventory cost by the index.  This gives a cost that is relative to the base year.

You might be interested in
PLEASE HELP ME
Olin [163]

Answer:

i clicked on this when i didnt mean to and i dont know how to exit

Explanation:

6 0
2 years ago
Motivation is largely the result of external rewards and punishments. <br> a. True <br> b. False
SSSSS [86.1K]
False. Motivation is an internal and external factors that stimulate people's desire to action that drives people to be committed and interested continuously to attain role, targets, and goals. It also includes conscious and subconscious factors. Hopes this helps you. 
8 0
3 years ago
The single recovery principle requires a court to settle a matter once and for all by awarding a lump sum for past and future ex
GrogVix [38]

Answer: True

Explanation: Under the single recovery principle if the plaintiff, that is, the person bringing up the case to the court, proves that he or she is eligible for any recovery for a particular harm then that recovery should be made and settled in once and for all by getting a lump sum amount from the payer.

Under this rule the plaintiff can not claim reward for same injury from two different entities.

6 0
3 years ago
Read 2 more answers
Sarah Mayer works as a security officer and is in charge of keeping track of who is in the office at any given time. She notices
larisa86 [58]

Answer:

Letter C is correct. <u>Behavioral.</u>

Explanation:

Attitudes in a workplace correspond to the way an individual will react to a particular situation. It may occur with other people's evaluation, problems and events, and may have a positive or negative character.

The behavioral component exemplified in the above question, is characterized as the intentions of an individual, are the tendencies of how an individual will behave towards an object in the short and long term.

4 0
2 years ago
The human genome project, which got under way in 1990, is an international effort to ________.
beks73 [17]
Determine the sequence of the human DNA.

Hope this helps!
7 0
3 years ago
Other questions:
  • Peterson Company's general ledger shows a cash balance of $7,440 on May 31.
    10·1 answer
  • Suppose the state of Wyoming passes a law that increases the tax on cigarettes. As aresult, smokers who live in Wyoming start pu
    6·1 answer
  • Cushman company had $814,000 in sales, sales discounts of $12,210, sales returns and allowances of $18,315, cost of goods sold o
    11·1 answer
  • About 13 to 16 guests out of every 100 are purposefully out to scam us and get something for free.
    9·1 answer
  • The _________ program is one of the more common ways to get college credit in high school. It includes an exam that you must tak
    10·2 answers
  • Barney wants to start a new business that yields a profit of​ 20% per year after a period of 2 years. In this​ period, if he
    12·1 answer
  • How would a reduction in the temperature from 80 degrees to 50 degrees affect one’s decision to go swimming?
    13·1 answer
  • Elson co, needs to raise debt and for this purpose issued two different bonds, Bond A and Bond B. Both bonds have 20 years to ma
    9·1 answer
  • What is globalization in business.
    7·1 answer
  • Real Estate tax, a tax based on the value of the land and the buildings owned by its taxpayers, is a good example of _____. A. I
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!