Question Details

Answered: - Dollar-Value LIFO Retail Intella Inc. adopted the dollar-v


Dollar-Value LIFO Retail

Intella Inc. adopted the dollar-value retail LIFO method on January 1, 2015. The following data apply to the 4 subsequent years:

? ? Cost Retail ? ? ? Cost Retail
2015 Inventory, January 1 $40,000 $ 80,000 ? 2017 Purchases $117,600 $280,000
? Purchases 85,500 190,000 ? ? Sales ? 260,000
? Sales ? 200,000 ? 2018 Purchases 147,200 320,000
2016 Purchases 92,000 230,000 ? ? Sales ? 300,000
? Sales ? 210,000 ? ? ? ? ?

In addition, the following price indexes are available:

January 1, 2015 100 ? December 31, 2017 120
December 31, 2015 105 ? December 31, 2018 125
December 31, 2016 110 ? ? ?

Required:

Compute the inventory at the end of each of the 4 years. Round the cost-to-retail ratio to 3 decimal places and the final answers to the nearest dollar.


can you help with computing?

Ending inventory $? $? $?

$?

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 18, 2020

PRICE: $15

Solution~0001185752.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy from our tutoring website www.aceyourhomework.com (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 18, 2020

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.

Order Now