Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following

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Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Oasis€™s records.

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Calculate the index used for 2008 that yielded the aboveresults.

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Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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Question Posted: May 16, 2012 07:58 AM

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Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following

Question:

Date December 31, 2007 December 31, 2008 Price Index 105 Ending Inventory at Base Prices $92,000 97,000 Ending Inventory at Dollar-Value LIFO $92,600 98,350

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97000 92000 5000 increase at ...View the full answer

Intermediate Accounting principles and analysis

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