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Business, 17.12.2019 04:31, tessafargo
Canova corporation adopted the dollar-value lifo retail method on january 1, 2018. on that date, the cost of the inventory on hand was $15,000 and its retail value was $18,750. information for 2018 and 2019 is as follows: ending inventoryat retail retail priceindex cost-to-retailpercentagedate12/31/1 8 $ 25,000 1.25 82 %12/31/19 $ 28,600 1.30 85 %required:
1. what is the cost-to-retail percentage for the inventory on hand at 1/1/18?
2. calculate the inventory value at the end of 2018 and 2019 using the dollar-value lifo retail method.
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Answers: 2
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Canova corporation adopted the dollar-value lifo retail method on january 1, 2018. on that date, the...
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