A company reports inventory using the lower of cost and net realizable value (NRV) Below is information related to its year-end inventory
A company reports inventory using the lower of cost and net realizable value (NRV) Below is information related to its year-end inventory
2. Calculate ending inventory using the lower of cost and net realizable value.
Homework Answers
| Inventory | Quantity | Unit cost | Unit NRV |
| Furniture | 170 | 82 | 97 |
| Electronics | 47 | 370 | 285 |
| Inventory | Quantity | Lower of Unit cost or NRV | Ending inventory |
| Furniture | 170 | 82 | 13940 |
| Electronics | 47 | 285 | 13395 |
| 27335 |
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A company reports inventory using the lower of cost and net realizable value (NRV) Below is information related to its year-end inventory
A company reports inventory using the lower of cost and net realizable value (NRV). Below is...
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A company reports inventory using the lower of cost and net realizable value. Below is information...
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A company reports inventory using the lower of cost and net realizable value. Below is information...
A company reports inventory using the lower of cost and net realizable value. Below is information related to its year-end inventory.a. Calculate ending inventory under the lower of cost and net realizable valueb. Prepare the necessary adjusting entry to inventory (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
A company reports inventory using the lower of cost and net realizable value. Below is information...
A company reports inventory using the lower of cost and net realizable value. Below is information related to its year- end inventory: InventoryQuantity Cost NRV Item A 140 $28 $33 Item B 4033 23 a. Calculate ending inventory under the lower of cost and net realizable value. Ending inventory b. Prepare the necessary adjusting entry to inventory. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal...
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Required information The following information applies to the questions displayed below.) Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Inventory Quantity Unit Cost Furniture 250 Electronics Unit NRV $105 325 $ 90 450 55 ed 2. Calculate ending inventory using the lower of cost and net realizable value. Inventory Quantity Lower of Cost and NRV per unit Ending Inventory Furniture Electronics $ 0
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