Solution
Item D | $ 81.00 |
Item E | $ 68.00 |
Item F | $ 65.00 |
Item G | $ 37.00 |
Item H | $ 54.00 |
Item I | $ 39.00 |
Working
Item D | Item E | Item F | Item G | Item H | Item I | |
Selling price (A) | $ 130.00 | $ 119.00 | $ 103.00 | $ 97.00 | $ 119.00 | $ 97.00 |
Cost to complete (B) | $ 32.00 | $ 32.00 | $ 27.00 | $ 38.00 | $ 32.00 | $ 32.00 |
Selling cost (C ) | $ 11.00 | $ 19.00 | $ 11.00 | $ 22.00 | $ 11.00 | $ 22.00 |
Net realizable value [A-(B+C)] | $ 87.00 | $ 68.00 | $ 65.00 | $ 37.00 | $ 76.00 | $ 43.00 |
Cost (D) | $ 81.00 | $ 86.00 | $ 86.00 | $ 86.00 | $ 54.00 | $ 39.00 |
Lower of cost of NRV | $ 81.00 | $ 68.00 | $ 65.00 | $ 37.00 | $ 54.00 | $ 39.00 |
Show Attempt History Current Attempt in Progress Sheridan Company uses the LCNRV method, on an individual-item basis, i...
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