In 2019,Richard's Department Store Changes Its Inventory Method from FIFO

question 16

Multiple Choice

In 2019,Richard's Department Store changes its inventory method from FIFO to LIFO.Richard's uses the simplified LIFO method.Richard's year-end inventory under FIFO is as follows: 2018 - $300,000; 2019 - $350,000.The 2018 price index is 110% and the 2019 index is 120%.The 2019 layer is

• A)$19,097.
• B)$20,833.
• C)$22,727.
• D)$50,000.

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Definitions:

Age Factor

Refers to the influence of a person’s age on their learning processes, abilities, and development.

Prevalence

The proportion of a population found to have a particular condition at a given time.

Ethnic Background

A person's heritage or lineage, often associated with cultural or national identity.

Childhood Obesity

A serious medical condition affecting children and adolescents, characterized by exceeding the healthy weight for one's age and height.