Bond Company adopted the dollar-value LIFO inventory method on January 1, 2018. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO: Under the dollar-value LIFO method, the inventory at December 31, 2019, should be
A) $357,600.
B) $350,000.
C) $351,600.
D) None of these answer choices are correct.

Question

Bond Company adopted the dollar-value LIFO inventory method on January 1, 2018. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:  Under the dollar-value LIFO method, the inventory at December 31, 2019, should be
A) $357,600. 
B) $350,000. 
C) $351,600. 
D) None of these answer choices are correct.

Quizplus · Accepted Answer

11ea937b_362f_e460_a419_c1cea963c8f6_TB2599_00

Bond Company Adopted the Dollar-Value LIFO Inventory Method on January