Pharoah Company has used the dollar-value LIFO method since January 1, 2017. Pharoah uses internal price indexes and multiple pools. At the end of calendar year 2018, the following data are available...


Pharoah Company has used the dollar-value LIFO method since January 1, 2017. Pharoah uses internal price indexes and multiple<br>pools. At the end of calendar year 2018, the following data are available for Pharoah's inventory pool A.<br>At Current-Year<br>Inventory<br>At Base-Year Cost<br>Cost<br>January 1, 2017<br>$ 1,000,000<br>$ 1,000,000<br>December 31, 2017<br>1,250,000<br>1,375,000<br>December 31, 2018<br>1,300,000<br>1,482,000<br>Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory in Pool A be<br>reported at December 31, 2018?<br>December 31, 2018<br>Price Index<br>Dollar-value LIFO inventory<br>%24<br>

Extracted text: Pharoah Company has used the dollar-value LIFO method since January 1, 2017. Pharoah uses internal price indexes and multiple pools. At the end of calendar year 2018, the following data are available for Pharoah's inventory pool A. At Current-Year Inventory At Base-Year Cost Cost January 1, 2017 $ 1,000,000 $ 1,000,000 December 31, 2017 1,250,000 1,375,000 December 31, 2018 1,300,000 1,482,000 Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory in Pool A be reported at December 31, 2018? December 31, 2018 Price Index Dollar-value LIFO inventory %24

Jun 10, 2022
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