E9-2 (L01) (LCNRV) Riegel Company uses the LCNRV method, on an individual-item basis, in pricing its...
E9-2 (L01) (LCNRV) Riegel Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. D $120 $110 $110 $90 Estimated selling price Cost Cost to complete Selling costs 30 18 Instructions Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2017, for...
Riegel Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Estimated selling price Cost - Item D $120 75 30 10 Item E $110 80 30 18 Item F $95 80 25 10 Item G $90 30 35 20 Item H Item $110 $90 50 36 30 30 10 20...
Question 6 Riegel Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D $120 Estimated selling price Cost Cost to complete Selling costs Item E $110 80 30 75 30 Item F $95 80 25 10 Item G $90 80 35 20 Item H $110 50 30 10 Item...
Exercise 9-2 Ayayai Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $128 $118 $102 $96 $118 $96 Cost 80 86 86 86 54 39 Cost to complete 32 32 27 37 32 32 Selling...
Exercise 9-2 Ivanhoe Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $144 $132 $114 $108 $132 $108 Cost 90 96 96 96 60 43 Cost to complete 36 36 30 42 36 36 Selling...
Buffalo Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Exercise 9-2 Item D ItemE Item F Item G Item H Item I 149 $136 $118 $112 $136 $112 Estimated selling price 93 37 12 52 37 12 45 37 25 31 43 25 37 Cost to complete 12 Selling...
Coronado Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $133 $122 $105 $100 $122 $100 Cost 83 89 89 89 56 40 Cost to complete 33 33 28 39 33 33 Selling costs 11...
Kingbird Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $130 $119 $103 $97 $119 $97 Cost 81 86 86 86 54 39 Cost to complete 32 32 27 38 32 32 Selling costs 11...
Exercise 9-2 Flounder Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $140 $129 $111 $105 $129 $105 Cost 88 94 94 94 59 42 Cost to complete 35 35 29 41 35 35 Selling...
Exercise 9-2 Flounder Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $140 $129 $111 $105 $129 $105 Cost 88 94 94 94 59 42 Cost to complete 35 35 29 41 35 35 Selling...