Faucci Industries, Inc. uses the dollar-value LIFO method of computing its inventory cost with December 31,...

Faucci Industries, Inc. uses the dollar-value LIFO method of computing its inventory cost with December 31, 2015 representing the base cost. Data for the past five years follows:

Year Ended December 31,	Inventory at FIFO	Index
2015	$ 85,000	100
2016	92,400	105
2017	102,120	111
2018	102,600	114
2019	110,200	116

Required:

Determine the inventory valuation for 2016 through 2019 using the dollar-value LIFO technique.

Expert Solution

ekkarill92 answered 1 year ago

A) Whispering, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past...

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Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2017. Its inventory...

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Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used...

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Lewis Company adopted the dollar-value LIFO method of inventory valuation on 12/31/18. Its inventory at that...

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On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this...

On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $114,000. The 2016 ending inventory, valued at year-end costs, was $165,000. The relative cost index for this inventory in 2016 was 1.20. Suppose that Badger's 2017 ending inventory, valued at year-end costs, was $176,400 and that the relative cost index for this inventory in 2017 was 1.26. In determining the inventory balance should Badger report in its 12/31/17 balance sheet:

On January 1, year 1, Silver Industries Inc. adopted the dollar-value LIFO method of determining inventory...

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1/ On January 1, 2018, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on...

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Rose, Inc. uses the dollar-value LIFO retail inventory method. For years ending 2015-2019 they counted the...

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