16. In the double-extension method, the value of the units in inventory is extended at:
17. Web World began using dollar-value LIFO for costing its inventory last year. The base year layer consists of $ 400,000. Assuming the current inventory at end of year prices equals $ 552,000 and the index for the current year is 1.10, what is the ending inventory using dollar-value LIFO?
18.
RF Company had January 1 inventory of $ 200,000 when it adopted dollar-value LIFO. During the year, purchases were $ 1,200,000 and sales were $ 2,000,000. December 31 inventory at year-end prices was $ 286,720, and the price index was 112.
What is RF Company’ s gross profit?
What is Hay Company’ s gross profit
16. In the double-extension method, the value of the units in inventory is extended at:
17. Web World began using dollar-value LIFO for costing its inventory last year. The base year layer consists of $ 400,000. Assuming the current inventory at end of year prices equals $ 552,000 and the index for the current year is 1.10, what is the ending inventory using dollar-value LIFO?
18.
RF Company had January 1 inventory of $ 200,000 when it adopted dollar-value LIFO. During the year, purchases were $ 1,200,000 and sales were $ 2,000,000. December 31 inventory at year-end prices was $ 286,720, and the price index was 112.