Discuss the inventory amounts for an ingredient used, Accounting Basics

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Discuss the inventory amounts for an ingredient used

P&P products implemented Dollar Value LIFO inventory valuation in 2009, when their ending inventory was $650,000. The following are the inventory amounts for an ingredient used in packaging for 20 nyears 2010-2014:

Year Inventory at the end of year pricing Price Index

2010 697,200 105

2011 795,800 115

2012 805,200 120

2013 856,500 125

2014 901,800 135

1. Calculate the ending inventory for years 2009- 2014 using Dollar Value LIFO (show work)

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Accounting Basics: Discuss the inventory amounts for an ingredient used

Reference No:- TGS0686411

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Accounting Basics: Discuss the inventory amounts for an ingredient used

Reference No:- TGS0686411

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Discuss the inventory amounts for an ingredient used

Reference No:- TGS0686411

Recent Questions Asked Accounting Basics

Q : Plans to finance its operations

Q : Explain the process of preparing interm financial statements

Q : The present value of the prize

Q : What is the present value of the lease payments

Q : Discuss the inventory amounts for an ingredient used

Q : How many annual payments will ann receive

Q : What is the effect on total income if wear company accepts

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Q : Describe the account earns

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