Product | Lower of cost or net realizable value |
A | 69100 |
B | 47700 |
C | 100800 |
Total | $217600 |
Concord Company developed the following information about its inventories in applying the lower of cost and...
Bramble Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. Net realizable Product Cost value A $114000 $128000 B 83000 78000 C 152000 165000 If Bramble applies the LCNRV basis, the value of the inventory reported on the balance sheet would be
Marigold Corp. developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value(LCNRV) basis in valuing inventories: Product Cost Market A $89000 $94000 B 62000 59000 C 125000 126000 After Marigold Corp. applies the LCNRV rule, the value of the inventory reported on the balance sheet would be $273000. $282000. $276000. $279000.
QUESTION 4 Jenks Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Product Cost Market $114,000 $120,000 80,000 76,000 160,000 162,000 If Jenks applies the LCM basis, the value of the inventory reported on the balance sheet would be O $354,000. $358,000. $350,000. $362,000.
Question 15 0.5 pts East Jenkins Company developed the following information about its inventories in applying the lower-of- cost-or-market (LCM) basis in valuing inventories: Category Cost Market Α . $57,000 45,000 $45,000 35,000 70.000 82.000 If East Jenkins applies the LCM basis, the value of the inventory reported on the balance sheet would be
The controller of Greene Yard Company is applying the lower-of-cost-or-net realizable basis of valuing its ending inventory. The following information is available Market Value Cost Lawnmowers: Self-propelled $16,800 $17,000 Push type Total 19,500 36,300 18,000 35,000 Snowblowers: Manual Self-start Total 30,000 21,000 51,000 $85,800 $86,000 29,800 19,700 49,500 Total inventory Compute the value of the ending inventory by applying the lower-of-cost-or-net realizable basis Total ending inventory
Can someone help me? 1) 2) 3) Marigold Corp. developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Product A Cost Market $89000 $94000 62000 59000 125000 126000 C If Marigold applies the LCM basis, the value of the inventory reported on the balance sheet would be Wildhorse Co. sells six different products. The following information is available on December 31: Inventory item Tin Titanium Stainless steel Aluminum Iron...
Novel's Nursery has developed the following data in order to calculate the lower of cost or net realizable value for its products. The Individual products are listed within the categories of trees. Selling Price Cost $1,980 2,470 $1,880 1,780 Broad leaf trees: Ash Beech Needle leaf trees: Cedar Fir Fruit trees: Apple Cherry $2,860 4,85e $1,980 2,570 $1,930 3,530 $1,580 1,980 The costs to sell are 10% of selling price. Required: Determine the reported inventory value assuming the lower of...
When net realizable value is lower than cost, and the loss method applying the lower-of-cost-and-net-realizable approach of recording the write-down is used, what account is credited? A. Allowance to Reduce Inventory to NRV. B. Inventory. C. Cost of Goods Sold. D. A loss account.
A company reports inventory using the lower of cost and net realizable value (NRV) Below is information related to its year-end inventory2. Calculate ending inventory using the lower of cost and net realizable value.
CALCULATOR PRINTER VERSION BOX Multiple Choice Question 149 Oriole Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis invaluing inventories: Product Cost Market 5128000 $134000 90000 85000 C 179000 161000 If Oriole applies the LCM basis, the value of the inventory reported on the balance sheet would be 5405000 $400000 $392000 $397000 Click if you would like to Show Work for this questioni Coen Show Work