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Pronghorn has the following four items in its ending inventory Net Realizable tem okers Penguins Riddlers...
Martinez Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows...
Martinez Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,160 5,400 4,752 3,456 Net Realizable Value (NRV) $2,268 5,346 4,995 4,136 Determine the following the LCNRV for each item. Item LCNRV Jokers Penguins Riddlers Scarecrows (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter o for the amounts.) Item Write-down Jokers Penguins Riddlers Scarecrows (2) Determine a total category LCNRV evaluation. (If no write-down,...
Brief Exercise 9-2 Monty Corporation has the following four items in its ending inventory. Item Cost...
Brief Exercise 9-2
Monty Corporation has the following four items in its ending
inventory.
Item
Cost
Net Realizable
Value (NRV)
Jokers
$2,440
$2,562
Penguins
6,100
6,039
Riddlers
5,368
5,643
Scarecrows
3,904
4,673
Determine the following the LCNRV for each item.
Item
LCNRV
Jokers
$
Penguins
Riddlers
Scarecrows
LINK TO TEXT
(1) Determine the amount of write-down, if
any, using an item-by-item LCNRV evaluation. (If no
write-down, enter 0 for the amounts.)
Item
Write-down
Jokers
$
Penguins
Riddlers
Scarecrows
(2) Determine...
Brief Exercise 9-02 Waterway Corporation has the following four items in its ending inventory. Item Jokers...
Brief Exercise 9-02 Waterway Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,760 6,900 6,072 4,416 Net Realizable Value (NRV) $2,898 6,831 6,383 5,285 Your answer is correct. Determine the following the LCNRV for each item. Item LCNRV Jokers 2760 Penguins 6831 6072 Riddlers Scarecrows 4 416 Your answer is partially correct. Try again. (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter O...
Oriole Corporation has the following four items in its ending inventory. Item Cost Net Realizable Value...
Oriole Corporation has the following four items in its ending inventory. Item Cost Net Realizable Value (NRV) Jokers $2,800 $2,940 Penguins 7,000 6,930 Riddlers 6,160 6,475 Scarecrows 4,480 5,362 Determine the following the LCNRV for each item. Item LCNRV Jokers $enter a dollar amount Penguins enter a dollar amount Riddlers enter a dollar amount Scarecrows enter a dollar amount
Question 1 0.5/1 View Policies Show Attempt History Current Attempt in Progress Whispering Corporation has the followin...
Question 1 0.5/1 View Policies Show Attempt History Current Attempt in Progress Whispering Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,560 6,400 5,632 4,096 Net Realizable Value (NRV) $2.688 6,336 5.920 4,902 Your answer is correct. Determine the following the LCNRV for each item. Item LCNRV Jokers 2560 Penguins 6336 Riddlers 5632 Scarecrows 4096 (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter...
determine the amount of write down if any using item by item lcnrv and the total...
determine the amount of write down if any using item by item
lcnrv
and the total category lcnrv
Floyd Corporation has the following four items in its ending inventory. Net Realizable Value (NRV) Item Cost Jokers $2,100 Penguins $2,000 5,000 4,400 4,950 Riddlers 4,625 Scarecrows 3,200 3,830 Your answer is partially correct. Determine the following the LCNRV for each item. Item LCNRV Jokers 2000 Penguins 4950 Riddlers 4400 Scarecrow 3200 e Textbook and Media X Your answer is incorrect. (1)...
Question 1 --/1 View Policies Current Attempt in Progress Whispering Corporation has the following four items...
Question 1 --/1 View Policies Current Attempt in Progress Whispering Corporation has the following four items in its ending inventory. Net Realizable Value (NRV) Item Cost Jokers $2,560 $2,688 Penguins 6,400 6,336 Riddlers 5,632 5,920 Scarecrows 4.096 4,902 (a) Determine the following the LCNRV for each item. LCNRV Item $ Jokers Penguins Riddlers Scarecrows
Check my we Net Inventory, by Product Category Tools: Per Unit Realizable Quantity Cost value Hammers...
Check my we Net Inventory, by Product Category Tools: Per Unit Realizable Quantity Cost value Hammers Saws 120 100 200 $4.00 9.00 1.00 $4.50 8.00 1.60 Paint products: 1-gallon cans Paint brushes 400 120 5.00 3.00 4.00 3.50 Required 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. 2. Assuming that the company reports an inventory...
Problem 9-2 Lower of cost or net realizable value [LO9-1] Almaden Hardware Store sells two product...
Problem 9-2 Lower of cost or net realizable value [LO9-1] Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2018 year-end inventory is as follows: Net Realizable Value Inventory by Product Category Tools: Per Unit Quantity Cost $ 5.00 Hammers Saws Screwdrivers Paint products: 1-gallon cans Paint brushes 100 $5.50 9.00 2.60 10.00 2.00 200 300 500 6.00 5.00 100 4.00 4.50 Required: 1. Determine the carrying value of inventory at year-end, assuming the...
Determining Lower of Cost or Net Realizable Value (NRV) Crane Company had the following inventory at...
Determining Lower of Cost or Net Realizable Value (NRV) Crane Company had the following inventory at December 31, 2017. Unit Price QuantityCostNRV Desks Model 900174$190$210 Model 900249280268 Model 900324350360 Cabinets Model 70011246064 Model 7002849588 Model 700354130126 a. Determine the ending inventory amount by applying the net realizable value rule to: 1. Each item of inventory. $Answer 2. Each major category of inventory. $Answer 3. Total inventory. $Answer
Martinez Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,160 5,400 4,752 3,456 Net Realizable Value (NRV) $2,268 5,346 4,995 4,136 Determine the following the LCNRV for each item. Item LCNRV Jokers Penguins Riddlers Scarecrows (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter o for the amounts.) Item Write-down Jokers Penguins Riddlers Scarecrows (2) Determine a total category LCNRV evaluation. (If no write-down,...
Brief Exercise 9-2
Monty Corporation has the following four items in its ending
inventory.
Item
Cost
Net Realizable
Value (NRV)
Jokers
$2,440
$2,562
Penguins
6,100
6,039
Riddlers
5,368
5,643
Scarecrows
3,904
4,673
Determine the following the LCNRV for each item.
Item
LCNRV
Jokers
$
Penguins
Riddlers
Scarecrows
LINK TO TEXT
(1) Determine the amount of write-down, if
any, using an item-by-item LCNRV evaluation. (If no
write-down, enter 0 for the amounts.)
Item
Write-down
Jokers
$
Penguins
Riddlers
Scarecrows
(2) Determine...
Brief Exercise 9-02 Waterway Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,760 6,900 6,072 4,416 Net Realizable Value (NRV) $2,898 6,831 6,383 5,285 Your answer is correct. Determine the following the LCNRV for each item. Item LCNRV Jokers 2760 Penguins 6831 6072 Riddlers Scarecrows 4 416 Your answer is partially correct. Try again. (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter O...
Question 1 0.5/1 View Policies Show Attempt History Current Attempt in Progress Whispering Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,560 6,400 5,632 4,096 Net Realizable Value (NRV) $2.688 6,336 5.920 4,902 Your answer is correct. Determine the following the LCNRV for each item. Item LCNRV Jokers 2560 Penguins 6336 Riddlers 5632 Scarecrows 4096 (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter...
determine the amount of write down if any using item by item
lcnrv
and the total category lcnrv
Floyd Corporation has the following four items in its ending inventory. Net Realizable Value (NRV) Item Cost Jokers $2,100 Penguins $2,000 5,000 4,400 4,950 Riddlers 4,625 Scarecrows 3,200 3,830 Your answer is partially correct. Determine the following the LCNRV for each item. Item LCNRV Jokers 2000 Penguins 4950 Riddlers 4400 Scarecrow 3200 e Textbook and Media X Your answer is incorrect. (1)...
Question 1 --/1 View Policies Current Attempt in Progress Whispering Corporation has the following four items in its ending inventory. Net Realizable Value (NRV) Item Cost Jokers $2,560 $2,688 Penguins 6,400 6,336 Riddlers 5,632 5,920 Scarecrows 4.096 4,902 (a) Determine the following the LCNRV for each item. LCNRV Item $ Jokers Penguins Riddlers Scarecrows
Check my we Net Inventory, by Product Category Tools: Per Unit Realizable Quantity Cost value Hammers Saws 120 100 200 $4.00 9.00 1.00 $4.50 8.00 1.60 Paint products: 1-gallon cans Paint brushes 400 120 5.00 3.00 4.00 3.50 Required 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. 2. Assuming that the company reports an inventory...
Problem 9-2 Lower of cost or net realizable value [LO9-1] Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2018 year-end inventory is as follows: Net Realizable Value Inventory by Product Category Tools: Per Unit Quantity Cost $ 5.00 Hammers Saws Screwdrivers Paint products: 1-gallon cans Paint brushes 100 $5.50 9.00 2.60 10.00 2.00 200 300 500 6.00 5.00 100 4.00 4.50 Required: 1. Determine the carrying value of inventory at year-end, assuming the...
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