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What is lindros inventoriable cost

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Reference no: EM131768801

Question 1 - Ashbrook Company adopted the dollar-value LIFO method on January 1, 2010 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.

Inventory

At Base-
Year Cost

At Current-
Year Cost

1/1/10

$200,000

$200,000

12/31/10

  240,000

  264,000

12/31/11

  256,000

  286,720

Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2011?

Question 2 - Donovan Inc., a retail store chain, had the following information in its general ledger for the year 2010.

Merchandise purchased for resale

$909,400

Interest on notes payable to vendors

8,700

Purchase returns

16,500

Freight-in

22,000

Freight-out

17,100

Cash discounts on purchases

6,800

What is Lindros' inventoriable cost for 2010?

Reference no: EM131768801

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