20. Gracia Company used the lower of cost or net realizable value method to value inventory. Data regarding the items in work in process inventory are presented below: Markers Pens Highlighters Historical cost 240,000 360,000 48,000 188,000 300,000 Selling price Estimated cost to complete 250,000 50,000 360,000 68,000 Replacement cost Normal profit margin as a 208,000 168,000 318,000 percentage of selling price 25% 25% 10% What is the measurement of the work in process inventory?

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The following data relates to Alpha Company. Units in beginning inventory Units produced Units sold ($350 per unit) Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative expenses - 26,000 19,000 $40 60 25 $50 150,000 Determine the value of ending inventory under variable costing. a. $700,000 O b. $1,225,000 C. $805,000 O d. $875,000

74. Subject :- Accounting