Business, 30.03.2020 21:51 amandafroman
Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2013, with an inventory of $245,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:
Year Ended Ending Inventory Cost Index
December 31 at Year-End Costs (Relative to Base Year)
2013 $ 316,440 1.08
2014 387,270 1.17
2015 372,780 1.14
2016 361,020 1.10
For year 2013, I got 296,840
For year 2014, I got 341,300
Can't figure out the rest, PLEASE SHOW ALL WORK. This is my third time asking this question and no one can seem to get it right.
Answers: 1
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Business, 22.06.2019 19:40
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Business, 22.06.2019 20:20
Garcia industries has sales of $200,000 and accounts receivable of $18,500, and it gives its customers 25 days to pay. the industry average dso is 27 days, based on a 365-day year. if the company changes its credit and collection policy sufficiently to cause its dso to fall to the industry average, and if it earns 8.0% on any cash freed-up by this change, how would that affect its net income, assuming other things are held constant? a. $241.45b. $254.16c. $267.54d. $281.62e. $296.44
Answers: 2
Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index i...
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