(Answered) Question 1 - ashbrook company adopted the dollar-value lifo

Accounting

Question 1 - Ashbrook Company adopted the dollar-value LIFO method on January 1, 2010 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.

Inventory	At Base- Year Cost	At Current- Year Cost
1/1/10	$200,000	$200,000
12/31/10	240,000	264,000
12/31/11	256,000	286,720

Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2011?

Question 2 - Donovan Inc., a retail store chain, had the following information in its general ledger for the year 2010.

Merchandise purchased for resale	$909,400
Interest on notes payable to vendors	8,700
Purchase returns	16,500
Freight-in	22,000
Freight-out	17,100
Cash discounts on purchases	6,800

What is Lindros' inventoriable cost for 2010?

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