Business, 03.04.2021 06:00 jordan2875

On January 1, 2021, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $100,000. The ending inventory, valued at year-end costs, and the relative cost index for each of the next three years is below: Year-end Ending inventory at year-end costs Cost Index
2021 $126,000 1.05
2022 143,000 1.10
2023 153,600 1.20
In determining the inventory balance for Badger to report in its 12/31/2022 balance sheet:.
A. $130,500.
B. $125,650.
C. $124,500.
D. $101,500.

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Answer from: potaetoo6879

$133,000

Explanation:

The computation of the inventory balance is shown below;

For 2022

= $143,000 ÷ 1.10

= $130,000

This involved two layes, the first one is $100,000 and $30,000 for the second one

Now the second one would be brought forward i.e.

= $30,000 × 1.10

= $33,000

Now the inventory balance would be

= $100,000 + $33,000

= $133,000

Therefore this is the answer but the same is not provided in the given options

Answer from: Quest

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Answer from: Quest

since the options are not listed, when you are working on your budget you should also add water, tv, internet, miscellaneous and your 'fun' money for in your budget. when budgeting, you need to allow for fun money, and mis/accidental money so that you stick to the budget and not go crazy because you feel strapped to the budget.

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On January 1, 2021, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this dat...

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