On January 1, 2018, Badger Inc

question 172

Multiple Choice

On January 1, 2018, 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:
- In determining the inventory balance should Badger report in its 12/31/2019 balance sheet:

• A) An additional layer of $23,000 is added to the 1/1/2019 balance.
• B) An additional layer of $22,000 is added to the 1/1/2019 balance.
• C) An additional layer of $11,000 is added to the 1/1/2019 balance.
• D) None of these answer choices are correct.

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