What should be the inventory at december 31, 2012


Bond Company adopted the dollar-value LIFO inventory method on January 1, 2011. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:

Under the dollar-value LIFO method, what should be the inventory at December 31, 2012, ?

 

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What should be the inventory at december 31, 2012
Reference No:- TGS082755

Expected delivery within 24 Hours