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jeffreyaxtell4039
06.11.2020 •
Business
Without prejudice to your solution to part (a), assume that you computed the June 30, 2020, inventory to be $60,480 at retail and the ratio of cost to retail to be 68%. The general price level has increased from 100 at January 1, 2020, to 108 at June 30, 2020. Compute the June 30, 2020, inventory at the June 30 price level under the dollar-value LIFO retail method.
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Ответ:
The June 30, 2020, inventory at the June 30 price level under the dollar-value LIFO retail method:
$65,318.40
Explanation:
a) Data and Calculations:
June 30, 2020 Inventory = $60,480 at retail
Ratio of cost to retail = 68%
Inventory at cost = $41,126.40 ($60,480 * 68%)
General price level increase from 100 to 108
Inventory at the June 30 price level under the dollar-value LIFO retail method:
Inventory at cost = $44,416.50 ($41,126.40 * 108/100)
Inventory at retail = $65,318.40 (44,416.50/68%)
Ответ:
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