Maple Corp Compute the Ending 2013 Inventory

question 62

Multiple Choice

Maple Corp.uses dollar-value LIFO.Certain information follows: $\begin{array}{rrr}&\text { Ending Inventory- }\\\text { Year }&\text { Current Cost }&\text { Index }\\2010 & \$ 10,000 & 100 \\2011 & 11,845 & 103 \\2012 & 12,096 & 108 \\2013 & 13,090 & 110\end{array}$ Compute the ending 2013 inventory.

• A)$11, 900
• B)$11, 985
• C)$12, 006
• D)$12, 090

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Definitions:

Allegation of Fraud

An assertion that someone has engaged in deceitful practices in violation of the law, typically involving financial transactions.

Voidable Title

Title that may be voided if one of the parties elects to do so.

Clouded Title

A title that has any irregularity, claim, or lien that creates uncertainty about the true ownership of the property.

Oral Agreement

A verbal contract in which the terms are agreed upon through spoken communication rather than in writing.