Kimmel Financial Accounting 7e Gradebook ORION nt FULL SCREE

Kimmel, Financial Accounting, 7e Gradebook ORION nt FULL SCREEN PRINTER VERSTONCk Brief Exercise 6-9 Winnebago Industries, Inc. is a leading manufacturer of motor homes. Suppose Winnebago reported ending inventory at August 29, 2014, of820,000 under the uro i the notes to lts financial statements, assume Winnebago reported a LIFO reserve of $30,449,000 at August 29, 2014. ry met to What would Winnebago Industries ending inventory have been if it had used FIFO? 2014 ending inventory assuming FIrO Question Attempts: 0 of 3 used SAVE POR LATER

Solution

2014 Ending Inventory assuming FIFO = Inventory using LIFO + LIFO Reserve

...............................................................= $46,820,000 + $30,449,000

...............................................................= $77,269,000