Pharoah Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The...
Exercise 9-7 Sage Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis Estimated Cost per Cost of Completion and Disposal Item Cost to Selling Normal No. Quantity Unit Replace 13202,000 1333 1,700 1426 1,600 1437 1,800 1510 1,500 1522 1,300 1573 3,800 1626 1,800 Profit $1.45 0.58 1.16 1.04 0.70 0.58 0.58 1.16 Price $3.48 2.67 4.29 3.60 2.32 3.13 1.86 6.03 $5.22 4.06 5.80 3.71 3.77 4.41 2.90 6.96 $0.41 0.58 0.46 0.29...
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...
Current Attempt in Progress Tamarisk Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 2,000 $3.71 $5.22 $1.86 1333 1,700 3.13 3.94 1.16 1426 1,600 5.22 5.80 1.62 1437 1,800 4.18 3.71 1.57 1510 1,500 2.61 3.77 1.62 1522 1,300 3.48 4.52 0.93 1573 3,800 2.09 2.90 1.39 1626 1,800 5.45 6.96 1.74 From the information above, determine the amount...
Question 3 --/1 View Policies Current Attempt in Progress Tamarisk Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Item No. Quantity 1320 2,000 $3.71 $3.48 $5.22 $0.41 $1.45 1333 1,700 3.13 2.67 4.06 0.58 0.58 1426 1,600 5.22 4.29 5.80 0.46 1.16 1437 1,800 4.18 3.60 3.71 0.29 1.04 1510 1,500 2.61 2.32 3.77 0.93 0.70 1522...
xercise 9-7 Concord Company follows the practice of priding its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Cost to Selling Estimated Cost of Completion Normal and Disposal Profit Item No.Quantity UnitReplacePrice 1320 2,000 $3.71 $3.48 1333 1,700 3.13 1426 1,6005.22 1437 1,800 4.18 1510 1,500 2.61 1522 1,300 3.48 1573 3,800 2.09 1626 1,800 5.45 2.67 4.29 3.60 2.32 3.13 1.86 6.03 $5.22 4.06 5.80 3.71 3.77 4.41 2.90 6.96 $0.41 0.58 0.46 0.29 0.93 0.46 0.87...
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...
Marigold 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 Item E Item F Item G Item H Item I $126 $116 $100 $95 $116 $95 Estimated selling price Cost 79 84 84 53 38 Cost to complete 32 32 26 32 32 Selling costs 19 21 21...
Concord 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 Item E Item F Item G Item H Item I Estimated selling price $127 $117 $101 $95 $117 $95 Cost 80 85 85 85 53 38 Cost to complete 32 32 27 37 32 32 Selling costs 11...
Bramble 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 Item E Item F Item G Item Item Estimated selling price Cost $138 86 35 12 $127 92 35 21 $109 92 29 12 $104 92 40 23 $127 58 35 12 $104 41 35 23 Cost to...
Marigold 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 $126 Item $116 Item F $100 Item G $95 Item H $116 Item I $95 Estimated selling price Cost Cost to complete Selling costs Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes...