User Account

All Pages

Calculate the index

Assignment Help Accounting Basics
Reference no: EM132590807

Question - Dollar-Value-LIFO

Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Oasis' records.

Date

Price Index

Ending Inventory at Base Prices

Ending Inventory at Dollar-Value LIFO

December 31, 2020

105

$92,000

$92,600

December 31, 2021

?

97,000

98,350

Instructions - Calculate the index used for-2021 that yielded the above results.

Reference no: EM132590807

Questions Cloud

What the company dividend yield equals : Basic earnings per share of $ 3.50, cash dividends per share of $ 0.75 and a market price per share of $ 64.75. The company's dividend yield equals
Determine the cost per CD-for each group : Bell, Inc. buys-1,000 computer game CDs from a distributor who is discontinuing those games. Determine the cost per CD-for each group
What the variation of quantity of raw material is : What The variation (variance) of quantity of raw material is?One company has established that it takes 5 pounds of material J to make product Z
Team leadership-management style : Define charisma. Identify and describe a charismatic leader you have worked for or worked with. What did she or he do that was charismatic?
Calculate the index : Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. Calculate the index
What budgeted cash collections in june would be : What Budgeted cash collections in June would be? Nationals Corporation makes collections on sales according to the following schedule
What the spending variance for supplies cost in july : The actual supplies cost for the month was $14,540. What is The spending variance for supplies cost in July would be closest to?
Development tools : E-commerce Web site development requires many different technologies because an e-commerce Web site is not just for presentation of information.
Determine the actions of the incident response team : Determine the actions of the incident response team that are the most critical in the event of a major incident or disaster.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the value of the inventory

Calculate the value of the inventory under both IFRS and US GAAP.

  Differences between absorption and contribution income

Explain the main differences between the absorption and contribution (behavioral, variable) income statements

  Paper analyzing the disclosures contained within the notes

Write a 700- to 1,050-word paper analyzing the disclosures contained within the notes to the financial statements related to cash and cash equivalents, receivables, and inventories. Include a list identifying the components of the organization's c..

  What is the difference between actual and budgeted costs

If Stone had actual overhead costs of $309200 for 14000 units produced, what is the difference between actual and budgeted costs

  A borrower has two alternatives for a loan 1 issue a 180000

a borrower has two alternatives for a loan 1 issue a 180000 45-day 10 note or 2 issue a 180000 45-day note that the

  Record each event in a horizontal statements model

Record each event in a horizontal statements model like the following one. The first event is rcorded as anexample

  Prepare a statement of cash flows using the direct method

Equipment that had a cost of $30,000 and was 70% depreciated was sold during 2010.Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)

  Prepare the cash receipts section of a cash budget

All sales are on credit with 65% collected during the month of sale, Prepare the cash receipts section of a cash budget for TED Corp for the month of March 2019

  Subscriptions were originally recorded as a liability

What adjusting entry should be made in January if the subscriptions were originally recorded as a liability

  Minimum and maximum cardinalities on the diagram

In both cases of components being used to make products and components being used to make other components, we need to keep track of how many components go into making something else. Draw an E-R diagram for this situation and place minimum and ma..

  Prepare all general journal entries for above transactions

Prepare all general journal entries for the above transactions. Also, assume that the all equity securities owned were trading at $21 per share

  On sept 25 2010 a hurricane destroyed the work in process

on sept. 25 2010 a hurricane destroyed the work in process inventory of biloxi corporation. at the time the company was

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd