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Winnebago Industries, Inc. is a leading manufacturer of motor homes. Winnebago reported ending inventory at August 25, 2007, of $101,208,000

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Winnebago Industries, Inc. is a leading manufacturer of motor homes. Winnebago reported ending inventory at August 25, 2007, of $101,208,000 under the LIFO inventory method. In the notes to its financial statements, Winnebago reported a LIFO reserve of $32,705,000 at August 25, 2007. What would Winnebago Industries’ ending inventory have been if it had used FIFO?


Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...

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Financial Accounting Tools for Business Decision Making

Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: April 21, 2012 02:51:41
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