Calculate the inventory value at the end of 2011 and 2012, Ask an Expert

Accounting

On January 1, 2011, the Haskins Company adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was $628,000. The 2011 and 2012 ending inventory valued at year-end costs were $860,000 and $887,000, respectively. The appropriate cost indexes are 1.16 for 2011 and 0.92 for 2012.

find out the inventory value at the end of 2011 and 2012 using the dollar-value LIFO method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M962379

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