Tiger Inc.adopted dollar-value LIFO on January 1,2016,when the inventory value was $360,000 and the cost index was 1.25.On December 31,2016,the inventory was valued at year-end cost of $395,000 and the cost index was 1.30.Tiger would report a LIFO inventory of:
A) $410,800.
B) $374,400.
C) $379,808.
D) $380,600.
Correct Answer:
Verified
Q77: Thompson's 2016 inventory turnover ratio is:
A)3.91.
B)4.00.
C)4.88.
D)5.00.
Q79: Thompson's 2016 gross profit ratio is:
A)25%.
B)19%.
C)20%.
D)None of
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Q86: Listed below are 5 terms followed by
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