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astraxan [27]
2 years ago
7

Knowledge Check 01 On January 1, Greenview Company adopted the dollar-value LIFO method. The inventory cost on January 1 was $11

2,000. On December 31, ending inventory had a cost of $136,400. The cost index for the year was 1.10. For what amount would ending inventory be reported
Business
1 answer:
Kamila [148]2 years ago
4 0

Answer:

Inventory to be reported is  125200

Explanation:

Adjust inventory to base year prices  

$136400/1.1=  124000

CURRENT YEAR LIFO LAYER  

$124000-$112000=  12000

Add the new lifo layer at end of period prices  

to prior year lifo inventory  

112000*1= 112000  

12000*1.1= 13200  

inventory to be shown 125200

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2 years ago
Jesse designs web sites and uses job order costing. On September 1, Jesse’s Work in Process account had a beginning balance of $
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Explanation:

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2 years ago
Which of the following scenarios best illustrates bundling? Cumulus Media Inc. sells its cloud computing network by having custo
ddd [48]

Answer:

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For example, a customers may prefer iPhone 6 than iPhone 5 Instead of the company to sell iPhone 6 for $500 dollars and iPhone 5 for $400 dollars each, the company will then bundles or combined the two product and sells them at a discounted price or amount of $300.

5 0
2 years ago
Legal action against a company may likely NOT be incurred when ________. a. employees incur injuries during training conducted b
Black_prince [1.1K]

Answer:

c) the company uses small amounts of copyrighted material

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Furthermore, age descrimination is a illegal act so the company will again face legal actions in this case too.

7 0
2 years ago
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8 0
2 years ago
Read 2 more answers
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