Using the information provided in BE10 11, prepare the journal entry required to adjust Todgrens ending inventory from a FIFO to a dollar value LIFO basis In BE10 11 Todgren Incorporated adopted the dollar value LIFO method last year Last years ending inventory was $ 56,400, with a price index of 1 0 The ending inventory for the current year at year end (FIFO) costs is $ 96,000 and the price index is 1 2 Based on this information, compute Todgrens ending inventory for the current year on a dollar value LIFO basis

Question: Using the information provided in BE10- 11, prepare the journal entry required to adjust Todgrens ending inventory from a FIFO to a dollar- value LIFO

Using the information provided in BE10- 11, prepare the journal entry required to adjust Todgren’s from a FIFO to a dollar- value LIFO basis.
In BE10- 11 Todgren Incorporated adopted the dollar- value LIFO method last year. Last year’s was $ 56,400, with a price index of 1.0. The for the current year at year- end (FIFO) costs is $ 96,000 and the price index is 1.2. Based on this information, compute Todgren’s for the current year on a dollar- value LIFO basis.

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