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 |
||
|---|---|---|---|---|
|
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 |
Homework Answers
|
Item |
Cost |
Net Realizable |
LCNRV | ||
|---|---|---|---|---|---|
|
Jokers |
$2,800 | $2,940 | $2,800 | ||
|
Penguins |
7,000 | 6,930 | $6,930 | ||
|
Riddlers |
6,160 | 6,475 | $6,160 | ||
|
Scarecrows |
4,480 | 5,362 | $4,480 |
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Item
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Net Realizable
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Jokers
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Riddlers
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LINK TO TEXT
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$
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206
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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...
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Selling Price
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$
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Electrons
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