Dollar Value LIFO Retail Flashcards by BJ Waguespack | Brainscape

Q

When companies use the LIFO cost flow assumption when using the Retail Inventory method what is it called?

A

Dollar Value LIFO retail

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Q

List the two steps of Dollar Valued (DV) Last In First Out (LIFO) Retail

A

)Apply DV LIFO;

2. )Multiply by the cost ratio

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