The second step in calculating dollar-value LIFO is to
A) compute the change in the inventory level for the year at base-year cost
B) roll back the ending inventory cost to base-year costs
C) value the total ending inventory at current-year costs
D) roll forward the increase to current-year cost by applying the current-year conversion index
B
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B) ?codified law. C) ?statutory law. D) ?ordinance.
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UnitPrice $2010 AnnualUsage2010 UnitPrice $2015 AnnualUsage2015 Item A 0.69 3,200 0.76 3,500 B 0.96 1,800 1.15 1,600 C 23.76 950 29.99 400 D 126.15 8 122.85 10 You are given the above information about items A,B,C and D. ? The Laspeyres index in 2015 is (rounded) ?
A. 80.015 B. 80.880 C. 123.469 D. 120.440