What kern''s inventory at december 31, 2005, would be, Accounting Basics

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What kern''s inventory at december 31, 2005, would be

On December 31, 2004, Kern Company adopted the dollar-value LIFO inventory method. All of Kern's inventories constitute a single pool. The inventory on December 31, 2004, using the dollar-value LIFO inventory method was $600,000. Inventory data for 2005 are as follows:

2/31/05 inventory at year-end prices $780,000
Relevant price index at year-end (base year 2004) 120

Under the dollar-value LIFO inventory method, what Kern's inventory at December 31, 2005, would be ?

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Accounting Basics: What kern''s inventory at december 31, 2005, would be

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Accounting Basics: What kern''s inventory at december 31, 2005, would be

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Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Find price elasticity of demand for us imports

Q : What was the cost of goods sold for 2005

Q : What was the estimated cost of this destroyed inventory

Q : Write methods of redistribution as ways of addressing goals

Q : What kern''s inventory at december 31, 2005, would be

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Q : How will note payable and the related interest be classfied

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What kern''s inventory at december 31, 2005, would be

Reference No:- TGS053483

Recent Questions Asked Accounting Basics

Q : Find price elasticity of demand for us imports

Q : What was the cost of goods sold for 2005

Q : What was the estimated cost of this destroyed inventory

Q : Write methods of redistribution as ways of addressing goals

Q : What kern''s inventory at december 31, 2005, would be

Q : What should be the correct balance of cash at march

Q : What amount should vale report as allowance

Q : How will note payable and the related interest be classfied

Q : What is ending inventory assuming northwest uses

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