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Feliz [49]
3 years ago
10

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

$1,000,000 and the relevant price index was 1.00. Information regarding inventory for subsequent years is as follows: Date Inventory at Current Year Prices Price Index 12/31/2019 1,000,000 1.00 12/31/2020 1,285,200 1.08 12/31/2021 1,439,100 1.23 12/31/2022 1,625,000 1.30 What is the cost of the ending inventory at December 31, 2021 under dollar-value LIFO
Business
1 answer:
Lana71 [14]3 years ago
4 0

Answer:

$1,209,100

Explanation:

The computation of the cost of the ending inventory as on Dec 31,2021 is shown below:

= Inventory as on Dec 31,2019 + {(Inventory as on Dec 31,2021 ÷ 2021 price index × 2019 price index) - Inventory as on Dec 31,2019} × 2021 price index ÷ 2019 price index

= $1,000,000 + {($1,439,100 ÷ 1.23 × 1) - $1,000,000} × 1.23 ÷ 1

= $1,000,000 + ($1,170,000 - $1,000,000) × 1.23

= $1,000,000 + $209,100

= $1,209,100

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Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Pro
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$150,900

Explanation:

Calculation for what The cost of goods manufactured for June was:

Direct materials $56,800

Direct labor $30,700

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$172,400

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2 years ago
Intro to Investing Math Quiz
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As a result of having increased from a price of $55 to $85, we can say that the stock value increased by<u> 54.55%</u>

The stock was valued at $55 then it increased to $85. First thing to do is to check how much it increased by in dollar terms:

<em>= New price - old price </em>

= 85 - 55

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In percentage terms, this is:

<em>= Increase/ Old price x 100%</em>

= 30 / 55 x 100%

= 54.55%

In conclusion, the stock value increased by 54.55%

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<em>Find out more at brainly.com/question/10273187.</em>

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3 years ago
Ford developed a series of ________, or short videos shown online featuring entertainment centered around its Focus brand, aimed
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Webisodes

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Webisodes are a form of series that has episodes aired predominantly on the web. It can be downloaded or streamed, and it can also be aired on normal cable television.

The major characteristic of webisode is its distribution on the internet, and it uses various video streaming websites.

Ford used webisodes to target college students for its Focus brand.

College students use the internet alot so they will have more exposure to the webisodes.

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Answer:

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A current liability is a financial obligation due within one year (or one normal operation cycle).

So a financial obligation that has a due date that exceeds a company´s operating cycle should have been directly classified as a long term liability (or a non current liability) in the first place. It simply is not a current liability that is changed into a long term liability, it always was a long term liability.

The other options represent the steps necessary for turning a current liability into a long term liability.

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