Springsteen Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2011. At that time the

Question:

Springsteen Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2011. At that time the inventory had a cost of $54,000 and a retail price of $100,000. The following information is available.

The price index at January 1, 2011, is 100.
Instructions
Compute the ending inventory at December 31 of the years 2011–2014. Round to the nearest dollar.

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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