Ch. 8 Valuation of Inventories A Cost - Basis Approach Solutions Problem 8-10 | Concordia University Wisconsin - Edubirdie

University:
Concordia University Wisconsin
Course:
ACCT 3100 | Intermediate Accounting I
Academic year:

2021
Views:

70

Pages:

1
Author:

5prinzg1s

PROBLEM 8-10 Base-Year Cost December 31, 2016 January 1, 2016, base December 31, 2016, layer December 31, 2017 January 1, 2016, base December 31, 2016, layer December 31, 2017, layer December 31, 2018 January 1, 2016, base December 31, 2016, layer December 31, 2017, layer December 31, 2018, layer Index % $45,000 11,000 $56,000 100 112* $45,000 12,320 $57,320 $45,000 11,000 12,400 $68,400 100 112 128** $45,000 12,320 15,872 $73,192 $45,000 11,000 12,400 1,600 $70,000 100 112 128 130*** $45,000 12,320 15,872 2,080 $75,272 *$62,700 ÷ $56,000 **$87,300 ÷ $68,400 ***$90,800 ÷ $70,000 LO: 4, Bloom: AP Complex, Time: 30-35, AACSB: Analysis , AICPA BB: None Reporting, AICPA PC:, AICPA BB: None 8-56 Dollar-Value LIFO

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