In 2013,Richard's Department Store Changes Its Inventory Method from FIFO

question 47

Multiple Choice

In 2013,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: 2012- $300,000; 2013 - $350,000.The 2012 price index is 110% and the 2013 index is 120%.The 2013 layer is

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

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Definitions:

Chronic Conditions

Long-lasting medical conditions that are persistent and have effects that can be controlled but not necessarily cured.

Health Care Outcomes

The results of healthcare interventions, measured by factors like patient satisfaction, health improvements, and mortality rates.

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The total amount of money spent on goods, services, and various needs or activities.

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