Udon Inc Adopted Dollar-Value LIFO (DVL) as of January 1, 2018

question 46

Multiple Choice

Udon Inc. adopted dollar-value LIFO (DVL) as of January 1, 2018, when it had an inventory of $700,000. Its inventory as of December 31, 2018, was $777,000 at year-end costs and the cost index was 1.05. What was DVL inventory on December 31, 2018?

• A) $735,000.
• B) $740,000.
• C) $742,000.
• D) $777,000.

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Definitions:

Personal Safety

Practices and precautions taken by individuals to protect themselves from harm or danger.

Drug Activity

The biochemical and physiological effects of drugs on the body or on microorganisms or parasites within or on the body.

Home Health Agency

An organization that provides healthcare services to individuals in their homes, ranging from nursing care to physical therapy.

Insulin Injections

A method of administering insulin directly into the body via a needle and syringe, insulin pen, or pump to manage diabetes.