Given the acquisition cost of product Z is $27, the net realizable value for product Z...
Given the acquisition cost of product Z is $27, the net realizable value for product Z is $24, the normal profit for product Z is $2, and the market value (replacement cost) for product Z is $25, what is the proper per unit inventory value for product Z applying LCM?
Homework Answers
As per LCM, inventory is valued at lower of its cost and market value.
As cost = $27
And, Net realizable value = $24
Per unit inventory value = lower of $27 and $24
= $24
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Given the acquisition cost of product Z is $27, the net
realizable value for product Z...
Given the acquisition cost of product ALPHA is $32, the net realizable value for product ALPHA...
Given the acquisition cost of product ALPHA is $32, the net realizable value for product ALPHA is $30, the normal profit for product ALPHA is $2.00, and the market value (replacement cost) for product ALPHA is $27, what is the proper per unit inventory value for product ALPHA applying LCM? $32.00. $28.00. $27.00. $30.00.
Cost Net realizable value Net realizable value less normal profit Market replacement cost 1 $6.90 9.15...
Cost Net realizable value Net realizable value less normal profit Market replacement cost 1 $6.90 9.15 8.15 7.00 2 $11.45 9.95 9.20 10.05 3 $11.65 13.30 11.20 13.60 4 $6.90 5.10 3.80 4.85 5 $8.05 6.95 6.25 4.50 Determine the proper unit inventory price in the above independent cases by applying the lower of cost or market rule. Case 1 s Case 2 Case 3 Case 4 Case 5
Cost Net realizable value Net realizable value less normal profit Market replacement cost 1 $7.60 9.05 8.50 7.70 2 $11....
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Given the acquisition cost of product ALPHA is $32, the net realizable value for product ALPHA is $30, the normal profit for product ALPHA is $2.00, and the market value (replacement cost) for product ALPHA is $27, what is the proper per unit inventory value for product ALPHA applying LCM? $32.00. $28.00. $27.00. $30.00.
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Cost Net realizable value Net realizable value less normal profit Market replacement cost 1 $7.60 9.05 8.50 7.70 2 $11.30 9.80 8.75 9.90 3 $11.65 12.40 11.00 12.70 4 $6.05 5.10 3.25 4.85 5 $7.60 6.90 5.80 4.50 Determine the proper unit inventory price in the above independent cases by applying the lower of cost or market rule. Case 1 $ Case 2 Case 3 Case 4 Case 5
d. $1,176,249 A company issues $15,000,000, 7.8%, 20 ear bonds to yield BN on January 1, 2011 Interest is paid on June 30 and December 31, The proceeds from the bonds are $14,703,108. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2017 balance sheet? a. $14,709,481 b. $16,000,000 c. $14,718,844 d. $14,706,232 On October 1, 2017 Bartoy Corporation issued 5%, 10-year bonds wit, a taco value of $8,000,000 at 104. Interest is...
EXIOIL 9. Inventory Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Item Birch 27 $144 $162 Cypress 43 230 251 Mountain Ash 22 66 86 Spruce 50 206 226 Willow 39 238 248 Inventory at the Lower of Cost or Market Total LCM Inventory Item Birch Total Cost Total Market 3,888 $ Cypress 9,890 ✓ Mountain Ash 1,452 ✓ Spruce 10,300 ✓ Willow 9.2827 Total 34,812 ✓ $ Feedback Check My Work o
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Given the historical cost of product Z is $42, the selling price of product Z is $47, costs to sell product Z are $3, the replacement cost for product Z is $43, and the normal profit margin is 40% of sales price, what is the amount that should be used to value the inventory under the lower-of-cost-or-market method? $43. $44. $40. $42.
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