Linguini Inc. adopted dollar-value LIFO (DVL) as of January 1, 2009, when it had an inventory of $800,000. Its inventory as of December 31, 2009, was $811,200 at year-end costs and the cost index was 1.04. What was DVL inventory on December 31, 2009?
A) $780,000.
B) $800,000.
C) $811,200.
D) $832,000.
Correct Answer:
Verified
Q72: Udon Inc. adopted dollar-value LIFO (DVL) as
Q73: Tiger Inc. adopted dollar-value LIFO on January
Q74: Thompson's 2009 inventory turnover ratio is:
A)3.91.
B)4.00.
C)4.88.
D)5.00.$336,000 [($82,000
Q75: ATC's gross profit ratio in 2009 is:
A)53.4%.
B)51.9%.
C)50.3%.
D)None
Q76: Buckeye Corporation adopted dollar-value LIFO on January
Q78: During 2009, WW Inc. reduced its LIFO
Q79: Thompson's 2009 gross profit ratio is:
A)25%.
B)19%.
C)20%.
D)None of
Q80: Ramen Inc. adopted dollar-value LIFO (DVL) as
Q81: Required: Compute the ending inventory and cost
Q82: The following information is taken
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents