The table below is a summary of inventory for YZ company. Do a descriptive analysis on products in inventory with regards to minimum, maximum and average book value. Advise manager of YZ of the level of inventory at December 31, 2019. YEAR END 31 DECEMBER 2019 INVENTORY REVIEWQ.1 PART A: MINIMUM, MAXIMUM & AVERAGE BOOK VALUEMinimumMaximum Average Total No. of Products Total$0$8,238$2,396$33 $7,932 $1,271$0 $6,667$384$1,306$145$0$0$28,074$513888$0$0$054627491165$11,980$58,480$105,319$1,306$0$84,694

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Description: The table below is a summary of inventory for YZ company. Do a descriptive analysis on products in inventory with regards to minimum, maximum and average book value. Advise manager of YZ of the level of inventory at December 31, 2019. YEAR END 31 DEC

Descriptive analysis, also known as descriptive statistics, is a statistical method used to…

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The table below is a summary of inventory for YZ company. Do a descriptive analysis on products in inventory with regards to minimum, maximum and average book value. Advise manager of YZ of the level of inventory at December 31, 201

The table below is a summary of inventory for YZ company. Do a descriptive analysis on products in inventory with regards to minimum, maximum and average book value. Advise manager of YZ of the level of inventory at December 31, 201

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 15P: (Appendix 8.1) Inventory Write-Down The following are the inventories for the years 2019, 2020, and...

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(Appendix 8.1) Inventory Write-Down The following are the inventories for the years 2019, 2020, and 2021 for Parry Company: Required: 1. Assume the inventory that existed at the end of each year was sold in the subsequent year. Prepare journal entries to record the lower of cost or net realizable value for each of the following alternatives: a. allowance method, periodic inventory system b. direct method, periodic inventory system 2. Next Level Refer to your answer for P8-2. How does the use of the periodic inventory system affect the write-down of inventory to the lower of cost or net realizable value?
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QUESTION 14 ABC Corporation has the following inventory information for March, 2019: Units $Unit cost $ Total Cost Beg. Inv. 10.50 26,250 2,500 Purchase 1 10.75 34,400 3,200 Purchase 2 11.00 29,700 2,700 Purchase 3 11.25 22,500 2,000 Total 112,850 10,400 On March 31, ABC has 2,700 units in ending inventory. Using the periodic LIFO (last-in, first-out) method, what is the value of ending inventory on March 31? O a. $28,400 O b. $28,350 O c. $30,375 O d. $30,200
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