Homework Answers
net realisable value = selling price - cost of completion.
| item | net realizable value |
| 1 | 158,000- 9,000 =>149,000 |
| 2 | 29,000-3,000=>26,000 |
| 3 | 256,000-7,000=>249,000 |
the value of ending inventory:
| item | lower of cost of ending inventory |
| 1 | 149,000 |
| 2 | 24,000 |
| 3 | 249,000 |
| cost of ending inventory | 422,000 |
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Disposal Costs
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Assume that Sheffield is a public company using IFRS. Determine
the total value of ending inventory, using the lower of cost and
net realizable value model applied on an individual item
basis.
Item
LC and NRV
Neutrinos
$
Ocillinos
$
Electrons
$
Protons
$...
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