Solution-What is the lifo inventory value at year-end

What is the lifo inventory value at year-end

Reference no: EM132623819

Problem 1: QV-TV, Inc. provided the following items in its notes to the financial statements for the year-end 2014: Cost of goods sold was $22.40 billion under FIFO costing and the inventory value under FIFO costing was $2.18 billion. The LIFO Reserve for year-end 2013 was $0.64 billion and at year-end 2014 it had increased to $0.84 billion. What is the LIFO inventory value at year-end 2014?

Option 1: $2.38 billion.

Option 2: $1.98 billion.

Option 3: $1.34 billion.

Option 4: $3.02 billion.

Reference no: EM132623819

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What is the lifo inventory value at year-end

Reference no: EM132623819

Reference no: EM132623819

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