LN inventory p10 Solution - LIFO

LN inventory p10 Solution - LIFO - Year 2008 10,000 10,500...

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Solution for Problem on p10 Jasmine Company, Dollar-Value LIFO Calculation step i step ii step iii Date Price Index Adjusted Layers 12/31/2007 80,000 1.00 80,000 80,000 80,000 80,000 80,000 12/31/2008 115,500 1.05 110,000 30,000 80,000 80,000 111,500 Year 2008 30,000 31,500 12/31/2009 108,000 1.20 90,000 (20,000) 80,000 80,000 90,500 Year 2008 10,000 10,500 12/31/2010 123,500 1.30 95,000 5,000 80,000 80,000 97,000 Year 2008 10,000 10,500 Year 2010 5,000 6,500 12/31/2011 159,500 1.45 110,000 15,000 80,000 80,000 118,750

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Unformatted text preview: Year 2008 10,000 10,500 Year 2010 5,000 6,500 Year 2011 15,000 21,750 12/31/2012 100,000 1.50 66,667 (43,333) 66,667 66,667 66,667 - Ending Inventory at Current Year Costs Ending Inventory at Base-Year Costs Increase (Decrease) Layers in Base-Year Costs Ending Inventory at Dollar-Value LIFO Cost Problem E, Given Data Emporer Company Date Cost Index 2011 200,000 1.08 2012 245,700 1.17 2013 235,980 1.14 2014 228,800 1.10 Inventory Value, 1/1/2011 150,000 Ending Inventory at Year-End Costs...
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This note was uploaded on 02/22/2012 for the course ACCT 401 taught by Professor Winchel during the Spring '10 term at South Carolina.

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LN inventory p10 Solution - LIFO - Year 2008 10,000 10,500...

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