Homework Answers
| Cost | NRV | LCNRV | |
|---|---|---|---|
| Skis | 256.50 | 217.35 | 217.35 |
| Boots | 143.10 | 145.80 | 143.10 |
| Parkas | 71.55 | 67.49 | 67.49 |
Nrv = Selling price - Cost to sell - Cost to complete
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Presented below is information related to Sheridan Inc.'s inventory. Skis (per unit) Historical cost Selling price...
Brief Exercise 9-1 Presented below is information related to Novak Inc.’s inventory. (per unit) Skis Boots...
Brief Exercise 9-1
Presented below is information related to Novak Inc.’s
inventory.
(per unit)
Skis
Boots
Parkas
Historical cost
$275.50
$153.70
$76.85
Selling price
307.40
210.25
106.94
Cost to sell
27.55
11.60
3.63
Cost to complete
46.40
42.05
30.81
Determine the following: the net realizable value for each item,
and the carrying value of each item under LCNRV.
Item
Cost
NRV
LCNRV
Skis
$
$
$
Boots
Parkas
Question 3 View Policies Current Attempt in Progress Presented below is information related to Monty Inc.'s...
Question 3 View Policies Current Attempt in Progress Presented below is information related to Monty Inc.'s inventory. (per unit) Historical cost Selling price Cost to sell Cost to complete Skis Boots Parkas $199.50 $111.30 $55.65 222.60 152.25 77.44 19.95 8.40 2.63 33.60 30.45 22.31 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. Item Cost NRV LCNRV Skis $ Boots Parkas
Please fill the blanks. Thanks Brief Exercise 9-1 Presented below is information related to Ivanhoe Inc.'s...
Please fill the blanks. Thanks
Brief Exercise 9-1 Presented below is information related to Ivanhoe Inc.'s inventory. (per unit) Skis Boots Parkas Historical cost Selling price Cost to sell Cost to complete $218.50 243.80 21.85 36.80 $121.90 166.75 9.20 33.35 $60.95 84.81 2.88 24.44 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. Cost NRV LCNRV Item Skis Boots Parkas LINK TO TEXT
Brief Exercise 9-1 Your answer is partially correct. Try again. Presented below is information related to...
Brief Exercise 9-1 Your answer is partially correct. Try again. Presented below is information related to Ivanhoe Inc.'s inventory. (per unit) Skis Boots Parkas Historical cost Selling price Cost to sell Cost to complete $121.90 $218.50 243.80 21.85 36.80 $60.95 84.81 2.88 24.44 166.75 9.20 33.35 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. LCNRV Item Cost NRV Skis 218 121.9 Parkas
Presented below is information related to Crane Inc.'s inventory, assuming Crane uses lower-of-LIFO cost-or-market. (per unit)...
Presented below is information related to Crane Inc.'s inventory, assuming Crane uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $193.80 $108.12 $54.06 Selling price 216.24 147.90 75.23 Cost to distribute 19.38 8.16 2.55 Current replacement cost 207.06 107.10 52.02 Normal profit margin 32.64 29.58 21.68 Determine the following: (a) The two limits to market value (i.e., the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. (Round answers to 2 decimal places, e.g....
Presented below is information related to Bramble Inc's inventory, assuming Bramble uses lower-of-LIFO cost-or-market. (per unit)...
Presented below is information related to Bramble Inc's inventory, assuming Bramble uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $67.84 94.40 Selling price $243.20 $135.68 271.36 185.60 24.32 10.24 259.84 134.40 40.96 37.12 Cost to distribute Current replacement cost 3.20 65.28 27.20 Normal profit margin Determine the following: (a) The two limits to market value (i.e., the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. (Round answers to 2 decimal places, eg....
Presented below is selected information related to Bonita Electronics' inventory. HDTV 42" HDTV- TV 50" Stand (per unit...
Presented below is selected information related to Bonita Electronics' inventory. HDTV 42" HDTV- TV 50" Stand (per unit) $370 $264 Historical cost $53 Selling price 474 290 70 Cost to sell 27 13 2. Cost to complete 46 21 6 Determine the following: (a) the net realizable value for each item, and (b) the carrying value of each item under LCNRV. (a) (b) LCNRV NRV HDTV-50" HDTV-42" TV Stand
Presented below is information related to Blue Inc's inventory, assuming Blue uses lower-of-LIFO cost-or-market. (per unit)...
Presented below is information related to Blue Inc's inventory, assuming Blue uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $76.32 106.20 Selling price $273.60 $152.64 305.28 208.80 27.36 11.52 292.32 151.20 Cost to distribute 3.60 Current replacement cost 73.44 Normal profit margin 46.08 41.76 30.60 Determine the following: (a) The two limits to market value (ie, the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. (Round answers to 2 decimal places, eg....
Presented below is information related to Coronado Inc.’s inventory, assuming Coronado uses lower-of-LIFO cost-or-market. (per unit)...
Presented below is information related to Coronado Inc.’s
inventory, assuming Coronado uses lower-of-LIFO
cost-or-market.
(per unit)
Skis
Boots
Parkas
Historical cost
$254.60
$142.04
$71.02
Selling price
284.08
194.30
98.83
Cost to distribute
25.46
10.72
3.35
Current replacement cost
272.02
140.70
68.34
Normal profit margin
42.88
38.86
28.48
Determine the following:
(a) The two limits to market value (i.e., the
ceiling and the floor) that should be used in the
lower-of-cost-or-market computation for skis.
Ceiling Limit
$
Floor Limit
$
(b)...
Presented below is information related to Monty Inc.’s inventory, assuming Monty uses lower-of-LIFO cost-or-market. (per unit)...
Presented below is information related to Monty Inc.’s
inventory, assuming Monty uses lower-of-LIFO cost-or-market.
(per unit)
Skis
Boots
Parkas
Historical cost
$197.60
$110.24
$55.12
Selling price
220.48
150.80
76.70
Cost to distribute
19.76
8.32
2.60
Current replacement cost
211.12
109.20
53.04
Normal profit margin
33.28
30.16
22.10
Determine the following:
(a) The two limits to market value (i.e., the
ceiling and the floor) that should be used in the
lower-of-cost-or-market computation for skis.
Ceiling Limit
$
Floor Limit
$
(b)...
Brief Exercise 9-1
Presented below is information related to Novak Inc.’s
inventory.
(per unit)
Skis
Boots
Parkas
Historical cost
$275.50
$153.70
$76.85
Selling price
307.40
210.25
106.94
Cost to sell
27.55
11.60
3.63
Cost to complete
46.40
42.05
30.81
Determine the following: the net realizable value for each item,
and the carrying value of each item under LCNRV.
Item
Cost
NRV
LCNRV
Skis
$
$
$
Boots
Parkas
Question 3 View Policies Current Attempt in Progress Presented below is information related to Monty Inc.'s inventory. (per unit) Historical cost Selling price Cost to sell Cost to complete Skis Boots Parkas $199.50 $111.30 $55.65 222.60 152.25 77.44 19.95 8.40 2.63 33.60 30.45 22.31 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. Item Cost NRV LCNRV Skis $ Boots Parkas
Please fill the blanks. Thanks
Brief Exercise 9-1 Presented below is information related to Ivanhoe Inc.'s inventory. (per unit) Skis Boots Parkas Historical cost Selling price Cost to sell Cost to complete $218.50 243.80 21.85 36.80 $121.90 166.75 9.20 33.35 $60.95 84.81 2.88 24.44 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. Cost NRV LCNRV Item Skis Boots Parkas LINK TO TEXT
Brief Exercise 9-1 Your answer is partially correct. Try again. Presented below is information related to Ivanhoe Inc.'s inventory. (per unit) Skis Boots Parkas Historical cost Selling price Cost to sell Cost to complete $121.90 $218.50 243.80 21.85 36.80 $60.95 84.81 2.88 24.44 166.75 9.20 33.35 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. LCNRV Item Cost NRV Skis 218 121.9 Parkas
Presented below is information related to Crane Inc.'s inventory, assuming Crane uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $193.80 $108.12 $54.06 Selling price 216.24 147.90 75.23 Cost to distribute 19.38 8.16 2.55 Current replacement cost 207.06 107.10 52.02 Normal profit margin 32.64 29.58 21.68 Determine the following: (a) The two limits to market value (i.e., the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. (Round answers to 2 decimal places, e.g....
Presented below is information related to Bramble Inc's inventory, assuming Bramble uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $67.84 94.40 Selling price $243.20 $135.68 271.36 185.60 24.32 10.24 259.84 134.40 40.96 37.12 Cost to distribute Current replacement cost 3.20 65.28 27.20 Normal profit margin Determine the following: (a) The two limits to market value (i.e., the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. (Round answers to 2 decimal places, eg....
Presented below is selected information related to Bonita Electronics' inventory. HDTV 42" HDTV- TV 50" Stand (per unit) $370 $264 Historical cost $53 Selling price 474 290 70 Cost to sell 27 13 2. Cost to complete 46 21 6 Determine the following: (a) the net realizable value for each item, and (b) the carrying value of each item under LCNRV. (a) (b) LCNRV NRV HDTV-50" HDTV-42" TV Stand
Presented below is information related to Blue Inc's inventory, assuming Blue uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $76.32 106.20 Selling price $273.60 $152.64 305.28 208.80 27.36 11.52 292.32 151.20 Cost to distribute 3.60 Current replacement cost 73.44 Normal profit margin 46.08 41.76 30.60 Determine the following: (a) The two limits to market value (ie, the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. (Round answers to 2 decimal places, eg....
Presented below is information related to Coronado Inc.’s
inventory, assuming Coronado uses lower-of-LIFO
cost-or-market.
(per unit)
Skis
Boots
Parkas
Historical cost
$254.60
$142.04
$71.02
Selling price
284.08
194.30
98.83
Cost to distribute
25.46
10.72
3.35
Current replacement cost
272.02
140.70
68.34
Normal profit margin
42.88
38.86
28.48
Determine the following:
(a) The two limits to market value (i.e., the
ceiling and the floor) that should be used in the
lower-of-cost-or-market computation for skis.
Ceiling Limit
$
Floor Limit
$
(b)...
Presented below is information related to Monty Inc.’s
inventory, assuming Monty uses lower-of-LIFO cost-or-market.
(per unit)
Skis
Boots
Parkas
Historical cost
$197.60
$110.24
$55.12
Selling price
220.48
150.80
76.70
Cost to distribute
19.76
8.32
2.60
Current replacement cost
211.12
109.20
53.04
Normal profit margin
33.28
30.16
22.10
Determine the following:
(a) The two limits to market value (i.e., the
ceiling and the floor) that should be used in the
lower-of-cost-or-market computation for skis.
Ceiling Limit
$
Floor Limit
$
(b)...
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