Superior Camera Shop began using the dollar-value LIFO method in 2006 when its e

Question

Superior Camera Shop began using the dollar-value LIFO method in 2006 when its ending inventory was costed at $50,000. The 2007 ending inventory at year-end prices was $54,000. Calculate Superior Camera Shop s ending inventory assuming 109 percent is an appropriate price index. Answer $54,000 $49,541 $49,500 $46,000 Superior Camera Shop began using the dollar-value LIFO method in 2006 when its ending inventory was costed at $50,000. The 2007 ending inventory at year-end prices was $54,000. Calculate Superior Camera Shop s ending inventory assuming 109 percent is an appropriate price index. Superior Camera Shop began using the dollar-value LIFO method in 2006 when its ending inventory was costed at $50,000. The 2007 ending inventory at year-end prices was $54,000. Calculate Superior Camera Shop s ending inventory assuming 109 percent is an appropriate price index. $54,000 $49,541 $49,500 $46,000 $54,000 $49,541 $49,500 $46,000

Explanation / Answer

$49541

REASON:

54000/109% = 49541

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