The inventory value for its one inventory

Assignment Help Accounting Basics
Reference no: EM13882712

1.On January 1, 2013, Avondale Lumber adopted the dollar value LIFO inventory method. The inventory value for its one inventory pool on this date was $260,000. An internally generated cost index is used to convert ending inventory to base year. Year end inventories at year end costs and cost indexes for its one inventory pool were as follows:

523_270-B-A-V-I (1011).png

Required:
Calculate inventory amounts at the end of eachyear. 

Reference no: EM13882712

Questions Cloud

Is that good or bad for sealed air current market position : Imagine that the Sealed Air Case took place during the growth of the Euro zone trading area. Is that good or bad for Sealed Air's current market position based on what we learned in the case? Explain
What is the difference between cad, cam, and cim : What is the difference between CAD, CAM, and CIM?
What is the price of the reference product : What is the price of the reference product? What is the price paid if the standard product is a "Samsung" (rather than the brand for the reference product)
How can programmed controls within the it system : How can programmed controls within the IT system for conversion processes enhance internal controls?
The inventory value for its one inventory : 1.On January 1, 2013, Avondale Lumber adopted the dollar value LIFO inventory method.
Explain how a physical inventory count would : Explain how a physical inventory count would be used differently by a company using a perpetual inventory system vs. a period inventory system.
Are products more elastic or inelastic in the long-run : Which products have steeper demand curves, elastic or inelastic products? Are products more elastic or inelastic in the long-run? Explain

Reviews

Write a Review

Accounting Basics Questions & Answers

  Retained earnings 179000 suppose that the preferred stock

suppose a company had the following stock outstanding and retained earnings on december 31 2011. common stock par 7

  Berts meat market sells quarters and sides of beef on an

berts meat market sells quarters and sides of beef on an installment basis. losses on receivables are very difficult to

  Perform a variance analysis of the massage chairs

Spine Line and you plan to perform a variance analysis of the massage chairs manufactured to determine if the standards are being met.

  What stock price is expected one year from now

The dividend is expected togrow at a constant rate of 6 percent a year. What stock price is expected 1 year from now? What is the required rate of return?

  Kind meek and clean attorneys-at-law specialize in three

kind meek and clean attorneys-at-law specialize in three areas criminal civil and family law. when specifications for

  Explain contract using percentage-of-completion method

Construction costs incurred during the first year were $6 million and estimated costs to complete at the end of the year were $9 million

  Glass changed its inventory method

1.In 2013, Wade Window and Glass changed its inventory method from FIFO to LIFO.

  Determine the appropriate cash flow statement treatment

Determine the appropriate cash flow statement treatment - classification (e.g., operating, investing, financing) and timing, if applicable, - for the above transactions.

  Company sells this equipment

Andy Company sells this equipment for $12,000 at the end of the current year.

  Requirement 1 in millions 2011 2012 2013contract price 340

requirement 1 in millions 2011 2012 2013contract price 340 340 340actual costs to date 70 150 200estimated costs to

  Write a script ?le that evaluates the product of the ?rst

Write a script ?le that evaluates the product of the ?rst 10 odd numbers using a for loop. Evaluate the product of the ?rst 10 odd numbers using a single MATLAB command. Use the MATLAB command prod.

  What is needed for an auditor to understand clients

what is needed for an auditor to understand clients business processes and accounting systems? what type of computer

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!

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