Solution-Compute the inventory on that date under the

Compute the inventory on that date under the dollar-value

Reference no: EM13553403

Enya Corp. adopted the dollar-value LIFO method on January 1, 2008. Its inventory on that date was $160,000. On December 31, 2008, the inventory at prices existing on that date amounted to $140,000. The price level at January 1, 2008, was 100, and the price level at December 31, 2008, was 112.

Instructions

(a) Compute the amount of the inventory at December 31, 2008, under the dollar-value LIFO method.

(b) On December 31, 2009, the inventory at prices existing on that date was $172,500, and the price level was 115. Compute the inventory on that date under the dollar-value LIFO method.

Reference no: EM13553403

Questions Cloud

Evaluate how much work is done by the electric force : Two identical point charges are fixed to diagonally opposite corners of a square that is 0.460 m on a side. How much work is done by the electric force as one of the charges moves to an empty corner

What is the optimal mix of products : What is the contribution margin per hour of painting department time for each product and what is the optimal mix of products?

Find the maximum allowable height of pump relative to water : A pump is to pump against a head of 450 ft. the barometric pressure is 14.4 psia, the vapor pressure of the water is 0.6 psia. assume friction losses in the intake piping is 6 ft., and the velocity is 10 fps.

Determine what is the maximum acceleration of the block : A block of mass 2 kg is attached to a spring. The block/mass system is on a horizontal frictionless surface. What is the maximum acceleration of the block

Compute the inventory on that date under the dollar-value : Compute the amount of the inventory at December 31, 2008, under the dollar-value LIFO method and compute the inventory on that date under the dollar-value LIFO method.

What is the rotational kinetic energy of one molecule : In a crude model of a rotating diatomic molecule of chlorine (Cl2), the two Cl atoms are 2.00 multiplied by 10-10 m apart, What is the rotational kinetic energy of one molecule of Cl2

What is the speed of the ball when it hits the ground : A ball of mass 522 g starts at rest and slides down a frictionless track. It leaves the track horizontally, striking the ground a distance x = 0.91 m from the end of the track after falling a vertical distance h2 (bottom of ramp)= 1.03 m from the ..

Compute the amount of the inventory at december : Compute the amount of the inventory at December 31, 2008, under the dollar-value LIFO method and the inventory at prices existing on that date was $172,500, and the price level was 115. Compute the inventory on that date under the dollar-value LIFO..

What is the bulk modulus on the liquid : A sample of liquid has an initial volume of 1.5L. The volume is reduced by 0.2mL, when the pressure increases by 140kPa. What is the bulk modulus on the liquid

User Account

All Pages

Compute the inventory on that date under the dollar-value

Reference no: EM13553403

Reference no: EM13553403

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT