Superior camera shop began using the dollar-value lifo, Ask an Expert

Accounting

Superior Camera Shop began using the dollar-value LIFO method in 2006 when its ending inventory was costed at $50,000. The 2007 ending inventory at year-end prices was $54,000. find out Superior Camera Shop s ending inventory assuming 109 percent is an appropriate price index.

a) $54,000

b) $49,541

c) $49,500

d) $46,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947762

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