Business, 14.06.2021 15:50 dlr1628

Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO method was $201,000. Inventory data are as follows: Year Ending Inventory at Year-End Costs Ending Inventory at Base Year Costs
2019 $260,400 $248,000
2020 347,300 302,000
2021 350,400 292,000

Required:
Compute the inventory at December 31, 2019, 2020, and 2021, using the dollar-value LIFO method.

Answers: 1

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Answers

Answer from: reyescarlosivan0

Explanation:

The cost index can be calculated as follows:

In 2019:

= 260400/248000

= 1.05

In 2020:

= 347300/302000

= 1.15

In 2021:

= 350400/292000

= 1.2

Inventory Layers converted to the base cost

Date $\text{(Inventory at } \ \ \ \ \ \ \ \ \text{(year-end } \\ \\ \text{ year end cost) } \div \ \ \ \text{cost index) } = \ \ \ \ \ \ \ \text{ Inventory layers(base year cost) }$

12/31/20 201000 ÷ 1 = 201000

12/31/20 260400 ÷ 1.05 = 248000

12/31/20 347300 ÷ 1.15 = 302000

12/31/20 350400 ÷ 1.2 = 292000

Inventory Layers converted to cost Ending Inventory DVL cost

$\text{(Inventory layers } \ \ \text{("year-end } \\ \\ \text{ base year cost) } \times \text{ cost index") } = \ \ \text{ Inventory layers(cost) }$

Base

201000 × 1 = 201000

Dec 31, 2019

47000 × 1.05 = 49350

ADD 250350

Base

201000 × 1 = 201000

Dec 31, 2019

47000 × 1.05 = 49350

Dec 31, 2020

(302000 - 248000)

= 54000 × 1.15 = 62100

ADD 312450

Base

201000 × 1 = 201000

Dec 31, 2019

47000 × 1.05 = 49350

Dec 31, 2021

(292000 - 248000)

= 44000 × 1.15 = 50600

ADD 300950

Answer from: Quest

the correct answer would be b, when, queen, calder hall and london.

explanation:

we always capitalize words when a paragraph or sentence is starting, when an important name is used, when a place is being written, or simply when a noun is used, etc. so in this sentence, sentence is starting from 'when', so it will be written in capital letters. secondly, queen is considered to be an important person, so it will also be written in capital letter. next, the name of the town is mentioned, i-e calder hall, which will also be written in capital letters. in the last, city name is being used, 'london', which will also be written in capital letters. so option b is the most appropriate one.

Answer from: Quest

i think it is sales-oriented, but i am not sure

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Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value...

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