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Unformatted text preview: given period are taken from the most recently acquired group of good stock. Any goods remaining in inventory are assumed to be the oldest goods with the oldest prices. Divide the ending Inventory by the price index. Then, compute the di between the previous and the current years ending inventory. Subtra current year’s base-year inventory from the previous year’s. Then, put it in current year terms. Accounts Payable Adjustments—increase (decrease) Change From Prior Ye $- $30,000 $(20,000) $11,000 $9,000 $10,000 ds in ifference act the ear...
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This note was uploaded on 05/26/2011 for the course ACCOUNTING 101 taught by Professor Smith during the Spring '11 term at San Diego State.
- Spring '11