71.ATC's gross profit ratio (rounded) in 2013 is:
72.ATC's inventory turnover ratio for 2013 is:
73.The average days inventory for ATC (rounded) for 2013 is: A. Less than 100 days.B. 114 daysC. 132 days.D. 151 days.
75.Compared to dollar-value LIFO, unit LIFO is:
76.Bond Company adopted the dollar-value LIFO inventory method on January 1, 2013. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:Under the dollar-value LIFO method, the inventory at December 31, 2014, should be
On January 1, 2013, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $100,000. The 2013 ending inventory, valued at year-end costs, was $126,000. The relative cost index for this inventory in 2013 was 1.05.77.What inventory balance should Badger report on its 12/31/13 balance sheet? A. $126,000B. $121,000C. $120,000D. $100,000