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RideAnS [48]
3 years ago
9

QV-TV, Inc. provided the following items in its notes to the financial statements for the year-end 2019:

Business
1 answer:
Stolb23 [73]3 years ago
5 0

Answer:

the  LIFO inventory value at 2014 year end is $1.3 billion

Explanation:

The calculation of the LIFO inventory value at 2014 year end is as follows

LIFO inventory value at year-end 2014 is

= FIFO inventory - LIFO reserve

= $2.1 billion - $0.8 billion

= $1.3 billion

Therefore, the  LIFO inventory value at 2014 year end is $1.3 billion

The same is to be calculated by applying the given formula

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