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Anna71 [15]
3 years ago
7

Sheffield Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was

$1010000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Date Inventory at Current Prices Current Price Index December 31, 2020 $1287000 106 December 31, 2021 1429000 124 December 31, 2022 1627000 129 What is the cost of the ending inventory at December 31, 2020 under dollar-value LIFO
Business
1 answer:
Solnce55 [7]3 years ago
6 0

Answer: $1226400

Explanation:

The cost of the ending inventory at December 31, 2020 under dollar-value LIFO will be calculated as:

= $1010000 + [($1287000/106 × 100) - $1010000] × 106/100

= $1010000 + ($1214151.4 - $1010000) × 1.06

= $1010000 + ($204150.94 × 1.06)

= $1010000 + $216400

= $1226400

Therefore, the cost of the ending inventory at December 31, 2020 under dollar-value LIFO is $1226400.

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bagirrra123 [75]

Answer:

so maximum amount that consumers are willing to pay for the quantity demanded at this​ price = $168

Explanation:

given data

Q​ = 20 - ​P

P​ = $8

to find out

maximum amount that consumers are willing to pay for the quantity demanded at this​ price

solution

we get here demand at current market price that is

Q = 20 - P

Q = 20 - 8

Q = 12

and Total expenditure incurred will be at at current market price will be

Total expenditure incurred  = Price × Quantity ..................1

Total expenditure incurred  = $8 × 12

Total expenditure incurred  = $96

and

we get price when Q = 0

Q = 20 - P  

P = 20

so now consumer surplus will be here as

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put her value we get

consumer surplus = 0.5 × ( 20 - 8 ) × 12

consumer surplus = $72

and

now we get maximum amount that is

maximum amount = Current expenditure + Consumer surplus  

maximum amount = $96 + $72

maximum amount = $168

so maximum amount that consumers are willing to pay for the quantity demanded at this​ price = $168

8 0
3 years ago
Which organization does not provide free or loss cost training and counseling associated with the Small Business Association
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The organization that does not provide free or loss cost training and counseling associated with the Small Business Association is IBRD.

<h3>What is Small Business Association?</h3>

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Read more about Small Business Association

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6 0
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Answer:

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Answer:

B. Are the performance measures fair?

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