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.

Question

02-04-2021
Business

Answered

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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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