Homework Answers
Inventory is value at the lower of cost or net realisable value on category basis
Hence, value will be equal to 17600+14000+20500 =$52,100
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2. Compute the lower-of-cost-or-net realizable value valuation for Aber Company's total inventory based on the following:...
Question 2: (10 Points): Intructions: a.) Compute the Lower of Cost or M e the Lower...
Question 2: (10 Points): Intructions: a.) Compute the Lower of Cost or M e the Lower of Cost or Market Valuations for the Howe Company's total inventory based of the following. Show all work to arrive at your answer Inventory Categories Cost Data Market Data Equipment $18,000 $17,700 Truck S14,000 $14,600 Computers $21,000 $19,500 b.) By applying Lower of Cost or Market Valuation to Inventory, the preparer of the Financial Statement would be applying the Constraint of: c.) Explain the...
please help Instructions Lower of Cost or Market Valuations for the Howe Company inventory based of...
please help
Instructions Lower of Cost or Market Valuations for the Howe Company inventory based of the following. Show all work to arrive at your answer. a.) Compute the Lower of Cost or Market Cost Data Market Data Inventory Categories $18,000 $17,700 Equipment $14,000 $14,600 Truck $21,000 $19,500 Computers b.) By applying Lower of Cost or Market Valuation to Inventory, the preparer of the Financial Statement would be applying the Constraint of: c.) Explain the meaning of this Constraint:
Novak Corp. accumulates the following cost and net realizable value data at December 31. Inventory Categories...
Novak Corp. accumulates the following cost and net realizable
value data at December 31. Inventory Categories Cost Data Net
Realizable Value Cameras $12,020 $13,070 Camcorders 8,200 8,930
DVDs 10,150 9,080 Compute the lower-of-cost-or-net realizable value
for company’s inventory. The lower-of-cost-or-net realizable value
$Enter a dollar amount
Novak Corp. accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Net Realizable Value Cameras $12,020 $13,070 Camcorders 8,200 8,930 DVDs 10,150 9,080 Compute the lower-of-cost-or-net realizable...
please help thats all the informatoin given Instructions a.) Compute the Lower of Cost or Market...
please help
thats all the informatoin given
Instructions a.) Compute the Lower of Cost or Market che lower of Cost or Market Valuations for the Howe Company tory based of the following. Show all work to arrive at your answer Cost Data Market Data Inventory Categories $18,000 $17,700 Equipment $14,000 $14,600 Truck $21,000 $19,500 Computers b.) By applying Lower of Cost or Market Valuation to Inventory, the preparer of the Financial Statement would be applying the Constraint of: c.) Explain...
Coronado Industries accumulates the following cost and net realizable value data at December 31. Inventory Categories...
Coronado Industries accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Net Realizable Value Cameras $10,520 $11,670 Camcorders 8,900 9,720 DVDs 10,530 9,320 Compute the lower-of-cost-or-net realizable value for company's inventory. The lower-of-cost-or-net realizable value $ Type here to search TOSHIBA Coral de
Problem 17.3A Applying the lower of cost or net realizable value rule by different methods. LO...
Problem 17.3A Applying the lower of cost or net realizable value rule by different methods. LO 17-3 This data is for selected Inventory items at Deluxe Supply Company Not Realizable Quantity Unit Cost Value CBOOK 46 20.50 20.00 Printer Cartridges Item 119 Item 120 Item 121 Fax Machines Item 210 25.00 88.00 11.00 227.00 Item 212 Required: 1&2. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower...
Bramble Corp. accumulates the following cost and net realizable value data at December 31. Inventory Categories...
Bramble Corp. accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Net Realizable Value Cameras $10,280 $11,520 Camcorders 8,410 9,170 DVDs 11,570 10,430 Compute the lower-of-cost-or-net realizable value for company’s inventory. The lower-of-cost-or-net realizable value $Enter a dollar amount
Reporting Inventory at Lower of Cost or Net Realizable Value Sanchez Company was formed on January...
Reporting Inventory at Lower of Cost or Net Realizable Value Sanchez Company was formed on January 1 of the current year and is preparing the annual financial state ments dated December 31, current year. Ending inventory information about the four major items stocked for regular sale follows: Item ENDING INVENTORY, CURRENT YEAR Quantity Unit Cost When Net Realizable Value on Hand Acquired (FIFO) (Market) at Year-End $20 $15 40 44 55 27 32 Required: 1. Compute the valuation that should...
Calculating Lower-ot Cost-or-Net Realizable Value The following information is from Guccii Company's individual inventory items as...
Calculating Lower-ot Cost-or-Net Realizable Value The following information is from Guccii Company's individual inventory items as of December 31, 2020. Inventory Quantity Cost per Unit Net Realizable Value per Unit Classification:Premium Item 1 $180 $185 Item 2 150 100 98 Item 3 165 175 Item 4 Classification: Classic Item 5 80 200 158 Item 6 Item 7 Item 8 500 280 80 Required a. Calculate lower-of-cost-or-net realizable value of Guccii's December 31, 2020, inventory applying the rule to each individual...
BE6–13 Smart-Tech Office Equipment Company has the following cost and net realizable value data at December 31, 2014:
BE6–13 Smart-Tech Office Equipment Company has the following cost and net realizable value data at December 31, 2014:Inventory Categories Cost Net Realizable ValueComputers $24,000 $21,500 Office Equipment 19,000 19,500 Printers 14,000 10,600(a) Calculate the lower of cost and net realizable value valuation. (b) What adjustment should the company record if it uses a perpetual inventory system?
Question 2: (10 Points): Intructions: a.) Compute the Lower of Cost or M e the Lower of Cost or Market Valuations for the Howe Company's total inventory based of the following. Show all work to arrive at your answer Inventory Categories Cost Data Market Data Equipment $18,000 $17,700 Truck S14,000 $14,600 Computers $21,000 $19,500 b.) By applying Lower of Cost or Market Valuation to Inventory, the preparer of the Financial Statement would be applying the Constraint of: c.) Explain the...
please help
Instructions Lower of Cost or Market Valuations for the Howe Company inventory based of the following. Show all work to arrive at your answer. a.) Compute the Lower of Cost or Market Cost Data Market Data Inventory Categories $18,000 $17,700 Equipment $14,000 $14,600 Truck $21,000 $19,500 Computers b.) By applying Lower of Cost or Market Valuation to Inventory, the preparer of the Financial Statement would be applying the Constraint of: c.) Explain the meaning of this Constraint:
Novak Corp. accumulates the following cost and net realizable
value data at December 31. Inventory Categories Cost Data Net
Realizable Value Cameras $12,020 $13,070 Camcorders 8,200 8,930
DVDs 10,150 9,080 Compute the lower-of-cost-or-net realizable value
for company’s inventory. The lower-of-cost-or-net realizable value
$Enter a dollar amount
Novak Corp. accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Net Realizable Value Cameras $12,020 $13,070 Camcorders 8,200 8,930 DVDs 10,150 9,080 Compute the lower-of-cost-or-net realizable...
please help
thats all the informatoin given
Instructions a.) Compute the Lower of Cost or Market che lower of Cost or Market Valuations for the Howe Company tory based of the following. Show all work to arrive at your answer Cost Data Market Data Inventory Categories $18,000 $17,700 Equipment $14,000 $14,600 Truck $21,000 $19,500 Computers b.) By applying Lower of Cost or Market Valuation to Inventory, the preparer of the Financial Statement would be applying the Constraint of: c.) Explain...
Coronado Industries accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Net Realizable Value Cameras $10,520 $11,670 Camcorders 8,900 9,720 DVDs 10,530 9,320 Compute the lower-of-cost-or-net realizable value for company's inventory. The lower-of-cost-or-net realizable value $ Type here to search TOSHIBA Coral de
Problem 17.3A Applying the lower of cost or net realizable value rule by different methods. LO 17-3 This data is for selected Inventory items at Deluxe Supply Company Not Realizable Quantity Unit Cost Value CBOOK 46 20.50 20.00 Printer Cartridges Item 119 Item 120 Item 121 Fax Machines Item 210 25.00 88.00 11.00 227.00 Item 212 Required: 1&2. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower...
Reporting Inventory at Lower of Cost or Net Realizable Value Sanchez Company was formed on January 1 of the current year and is preparing the annual financial state ments dated December 31, current year. Ending inventory information about the four major items stocked for regular sale follows: Item ENDING INVENTORY, CURRENT YEAR Quantity Unit Cost When Net Realizable Value on Hand Acquired (FIFO) (Market) at Year-End $20 $15 40 44 55 27 32 Required: 1. Compute the valuation that should...
Calculating Lower-ot Cost-or-Net Realizable Value The following information is from Guccii Company's individual inventory items as of December 31, 2020. Inventory Quantity Cost per Unit Net Realizable Value per Unit Classification:Premium Item 1 $180 $185 Item 2 150 100 98 Item 3 165 175 Item 4 Classification: Classic Item 5 80 200 158 Item 6 Item 7 Item 8 500 280 80 Required a. Calculate lower-of-cost-or-net realizable value of Guccii's December 31, 2020, inventory applying the rule to each individual...
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