E9-25B (Dollar-Value LIFO Retail) Presented below is information related to Winfield Corporation.
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E9-25B (Dollar-Value LIFO Retail) Presented below is information related to Winfield Corporation.
Price LIFO
Index Cost Retail
Inventory on December 31, 2014,
when dollar-value LIFO is adopted 100 $50,000 $75,000
Inventory, December 31, 2015 105 ? 94,500
Instructions
Compute the ending inventory under the dollar-value LIFO method at December 31, 2015. The cost-toretail ratio for 2013 was 60%.
- 10 years ago
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- 25.docx