Using the dollar-value LIFO retail method for inventory:
A) Is the same as dollar-value LIFO, except that the inventory is measured at retail, rather than at cost.
B) Combines retail LIFO accounting with dollar-value LIFO accounting.
C) Allows companies to report inventory on the balance sheet at retail prices.
D) All of these answer choices are correct.

Question

Quizplus · Accepted Answer

The dollar-value LIFO retail method combines the retail inventory method with dollar-value LIFO accounting, allowing for inventory valuation adjustments based on price level changes.

Using the Dollar-Value LIFO Retail Method for Inventory