A corporation adopted the doalr value lifo method of, Ask an Expert

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A corporation adopted the doalr value LIFO method of inventory valuation on Dec 31, 2011. Its inventory at that date was 450000 and the relevant price idex was 100. The information regarting inventory for subsequent years is as follows.

Date Inventory at current price current price idex

Dec 31,2012 $513600 107

Dec 31,2013 $580000 125

Dec 31, 2014 $650000 130

What is the ending inventory at december 31, 2012 under dollar value lifo?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797293

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