On Jan. 1, 2021, Wowzers Co. adopted Dollar Value LIFO. Below is the company's Dollar Value...

 

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On Jan. 1, 2021, Wowzers Co. adopted Dollar Value LIFO. Below is the company's Dollar Value LIFO chart for ending inventory as of Dec. 31, 2021: Layer 1/1/2021 12/31/2021 Inventory at Base Year Costs 62,000 40,570 Price Index 1.00 1.20 On Dec. 31, 2022 the company had ending inventory at FIFO costs of $107,000. The price index for 2022 is 1.66. What is the dollar-value LIFO ending inventory balance reported at Dec 31, 2022? On Jan. 1, 2021, Wowzers Co. adopted Dollar Value LIFO. Below is the company's Dollar Value LIFO chart for ending inventory as of Dec. 31, 2021: Layer 1/1/2021 12/31/2021 Inventory at Base Year Costs 62,000 40,570 Price Index 1.00 1.20 On Dec. 31, 2022 the company had ending inventory at FIFO costs of $107,000. The price index for 2022 is 1.66. What is the dollar-value LIFO ending inventory balance reported at Dec 31, 2022?

Answer rating: 100% (QA)

Solution To calculate the Dollar Value LIFO ending inventory balance reported at December 31 2022 we ... View the full answer