In 2014,Richard's Department Store Changes Its Inventory Method from FIFO

question 81

Essay

In 2014,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: 2013 - $300,000; 2014 - $350,000.The 2013 price index is 110% and the 2014 index is 120%.The 2014 layer is
A)$19,097.
B)$20,833.
C)$22,727.
D)$50,000.

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

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Definitions:

Luteinizing Hormone

A hormone produced by the anterior pituitary gland that plays a crucial role in regulating the reproductive system.

Mons Veneris

The fatty area located over the pubic bone of females, also known as the pubic mound.

Corpora Cavernosa

Two cylindrical bodies of erectile tissue found in the penis or clitoris, which fill with blood and swell to cause an erection.

Glans Clitoris

The external part of the clitoris, sensitive to sexual stimulation, located at the top of the vulva.