Homework Answers
selling price= 9,50,0000
cost of disposal= 33,000
market value= 8,37,000
cost of inventory= 9,17,000
we will take the lower of cost or market value that is the market value which is 8,37,000
profit= selling price-market value
= 950000-837000
= 113000
from this the cost of disposal will be deducted
=113000-33000
=80000
option B is correct
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Part
Quantity
Cost per Unit
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110
600
$107.00
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1,000
67.80
59.00
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90.40
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210
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a
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270
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2020, by the LCNRV method,...
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should be the replacement cost, at 225, given that it is the
middle-value between the ceiling and floor of 245 and 215
respectively. With that in mind, the loss should be reflected as 25
(250 cost - 225 LCM); what am I missing here? Please explain in
detail for rating.
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Cost per Unit
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110
600
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67.80
59.00
112
500
90.40
86.00
113
210
192.10
203.40
120
410
232.00
235.00
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a
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18.00
1.00
122
270
271.20
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