On the basis of the following data, determine the value of the inventory at the lower...
On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item.
Item |
Inventory Quantity |
Unit Cost Price |
Unit Market Price |
Total Cost |
Total Market |
Total Lower of Cost or Market |
||||||||||
| Product C | 300 | $6 | $5 | $ | $ | $ | ||||||||||
| Product D | 420 | 12 | 14 | |||||||||||||
| Total | $ | $ | $ | |||||||||||||
Homework Answers
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On the basis of the following data, determine the value of the
inventory at the lower...
On the basis of the following data, determine the value of the inventory at the lower...
On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Product Inventory Quantity Unit Cost Price Unit Market Value per Unit (Net Realizable Value) Model A 300 $140 $125 Model B 500 90 112 Model C 150 60 59 Model D 800 120 115 Model E 400 140 145 Inventory at the Lower of Cost or Market Product Total Cost...
Lower-of-Cost-or-Market Method On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Method On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item, as shown in Exhibit 10. Unit Market Price Unit Cost Price Item Inventory Quantity $36 $34 54 IA17 16 18 108 BJ54 X Feedback Check My Work Under lower-of-cost-or-market, for each item in inventory, choose the lower of total cost price or the total market price as the assigned value for computing inventory cost. First...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch 34 $84 $103 Cypress 43 267 267 Mountain Ash 12 97 92 Spruce 40 215 237 Willow 14 176 161 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 10. Product Inventory Quantity Cost Per Unit Market Value per Unit (Net Realizable Value) Class 1: Model A 19$115 $112 Model B 39 142 138 Model C 39294 305 Class 2: Model D 8 260 246 Model E 28 170 176 a. Determine the value of the inventory at the lower...
EX 6-15 Lower-of-cost-or-market inventory Obj. 6 On the basis of the following data, determine the value...
EX 6-15 Lower-of-cost-or-market inventory Obj. 6 On the basis of the following data, determine the value of the inventory at the lower of cost or market applied to (a) each item in the inventory, (b) each class of inventory, and (c) total inventory. Assemble the data in the form illustrated in Exhibit 10. IPLATE Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Product Class 1: Model A Model B Model Class 2: Model D Model E...
Lower-of-Cost-or-Market Inventory on the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory on the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Unit Market Value per Unit (Net Realizable Value) $125 112 59 115 145 Inventory Quantity Unit Product Cost Price 300 500 150 800 400 $140 90 60 120 140 Model A Model B Model C Model D Model E Inventory at the Lower of Cost or Market PrtSc...
On the basis of the following data, determine the value of the inventory at the lower...
On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch 33 $58 $54 Cypress 49 126 110 Mountain Ash 50 106 99 Spruce 18 277 279 Willow 50 299 303 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total Market...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch 47 $219 $217 Cypress 27 82 83 Mountain Ash 47 198 220 Spruce 11 162 187 Willow 42 59 50 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch $273 $275 Cypress Mountain Ash Spruce Willow 208 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total Market Total Lower of Cor Birch Crores Mountain Spruce Willow EXHIBIT A...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost of market. Assemble the data in the form illustrated in Bibit Inventory Item Inventory Quantity Unit Market Value per Unit (Net Realizable Value) $282 212 Birch $297 Cypress 204 Mountain Ash 13 Spruce 39 292 Willow Inventory at the Lower of Cost or Market Total Cost Total Market Total Lower of Cor Inventory Item Birch Cypress Mountain Ash Spruce WO...
Lower-of-Cost-or-Market Method On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item, as shown in Exhibit 10. Unit Market Price Unit Cost Price Item Inventory Quantity $36 $34 54 IA17 16 18 108 BJ54 X Feedback Check My Work Under lower-of-cost-or-market, for each item in inventory, choose the lower of total cost price or the total market price as the assigned value for computing inventory cost. First...
EX 6-15 Lower-of-cost-or-market inventory Obj. 6 On the basis of the following data, determine the value of the inventory at the lower of cost or market applied to (a) each item in the inventory, (b) each class of inventory, and (c) total inventory. Assemble the data in the form illustrated in Exhibit 10. IPLATE Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Product Class 1: Model A Model B Model Class 2: Model D Model E...
Lower-of-Cost-or-Market Inventory on the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Unit Market Value per Unit (Net Realizable Value) $125 112 59 115 145 Inventory Quantity Unit Product Cost Price 300 500 150 800 400 $140 90 60 120 140 Model A Model B Model C Model D Model E Inventory at the Lower of Cost or Market PrtSc...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch $273 $275 Cypress Mountain Ash Spruce Willow 208 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total Market Total Lower of Cor Birch Crores Mountain Spruce Willow EXHIBIT A...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost of market. Assemble the data in the form illustrated in Bibit Inventory Item Inventory Quantity Unit Market Value per Unit (Net Realizable Value) $282 212 Birch $297 Cypress 204 Mountain Ash 13 Spruce 39 292 Willow Inventory at the Lower of Cost or Market Total Cost Total Market Total Lower of Cor Inventory Item Birch Cypress Mountain Ash Spruce WO...
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