Trip Corp Began Business in 2013

question 70

Multiple Choice

Trip Corp. began business in 2013. On December 31, 2013, Trip's single pool of inventory was valued at $300,000, using the dollar-value LIFO inventory method. On December 31, 2014, the value of Trip's inventory at current costs was $450,000. The 2014 year-end cost index was 120. What was the value of Trip's inventory at the end of 2014, using the dollar-value LIFO method?

• A) $375,000
• B) $390,000
• C) $480,000
• D) $540,000

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Definitions:

Sustainability

The ability to maintain or improve the quality and longevity of a resource, practice, or system without depleting the contributing elements it requires.

Nonprofits

Entities designed to serve the public or community benefits without seeking commercial or monetary profits for their owners or stakeholders.

Services

Activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.

Interdisciplinary Approach

A method of solving problems or creating new knowledge by integrating techniques, perspectives, and concepts from two or more disciplines.