Homework Answers
Answer:
| Cost | NRV | LCNRV | |
| Jokers | $2000 | 2100 | $2000 |
| Penguins | 5000 | 4950 | 4950 |
| Riddlers | 4400 | 4625 | 4400 |
| Scarecrows | 3200 | 3830 | 3200 |
| $14600 | $15505 | ||
| Items | LCNRV | ||
| Jokers | $2000 | ||
| Penguins | $4950 | ||
| Riddlers | $4400 | ||
| Scarecrows | $3200 | ||
| $14550 | |||
| ans 1 | wite-down | ||
| Items | |||
| Jokers | 0 | ||
| Penguins | 50 | ||
| Riddlers | 0 | ||
| Scarecrows | 0 | ||
| Ans 2 | |||
| Total category LCNRV | $0 | ||
| as cost and LCNRV is equal if we take in total | |||
| Cost | NRV | LCNRV | |
| Jokers | $2000 | 2100 | 2000 |
| Penguins | 5000 | 4950 | 4950 |
| Riddlers | 4400 | 4625 | 4400 |
| Scarecrows | 3200 | 3830 | 3200 |
| $14600 | $15505 | $14550 | |
Add Answer to:
determine the amount of write down if any using item by item
lcnrv
and the total...
Martinez Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows...
Martinez Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,160 5,400 4,752 3,456 Net Realizable Value (NRV) $2,268 5,346 4,995 4,136 Determine the following the LCNRV for each item. Item LCNRV Jokers Penguins Riddlers Scarecrows (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter o for the amounts.) Item Write-down Jokers Penguins Riddlers Scarecrows (2) Determine a total category LCNRV evaluation. (If no write-down,...
Brief Exercise 9-2 Monty Corporation has the following four items in its ending inventory. Item Cost...
Brief Exercise 9-2
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...
Brief Exercise 9-02 Waterway Corporation has the following four items in its ending inventory. Item Jokers...
Brief Exercise 9-02 Waterway Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,760 6,900 6,072 4,416 Net Realizable Value (NRV) $2,898 6,831 6,383 5,285 Your answer is correct. Determine the following the LCNRV for each item. Item LCNRV Jokers 2760 Penguins 6831 6072 Riddlers Scarecrows 4 416 Your answer is partially correct. Try again. (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter O...
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Pronghorn has the following four items in its ending inventory Net Realizable tem okers Penguins Riddlers...
Pronghorn has the following four items in its ending inventory Net Realizable tem okers Penguins Riddlers Scarecrows 4,544 Cost Value (NRV) $2,840 7,100 $2,982 7,029 6,568 5,439 6,248 Determine the following the LCNRV for each item. Item okers Penguins Riddlers LCNRV (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 okers Penguins Riddlers Scarecrows Write-down (2) Determine a total category LCNRV evaluation. (If no write-down, enter 0...
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 Value (NRV) 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
Martinez Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,160 5,400 4,752 3,456 Net Realizable Value (NRV) $2,268 5,346 4,995 4,136 Determine the following the LCNRV for each item. Item LCNRV Jokers Penguins Riddlers Scarecrows (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter o for the amounts.) Item Write-down Jokers Penguins Riddlers Scarecrows (2) Determine a total category LCNRV evaluation. (If no write-down,...
Brief Exercise 9-2
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...
Brief Exercise 9-02 Waterway Corporation has the following four items in its ending inventory. Item Jokers Penguins Riddlers Scarecrows Cost $2,760 6,900 6,072 4,416 Net Realizable Value (NRV) $2,898 6,831 6,383 5,285 Your answer is correct. Determine the following the LCNRV for each item. Item LCNRV Jokers 2760 Penguins 6831 6072 Riddlers Scarecrows 4 416 Your answer is partially correct. Try again. (1) Determine the amount of write-down, if any, using an item-by-item LCNRV evaluation. (If no write-down, enter O...
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