Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 4/2 11/4 Transaction 2/20 Sale (a) Beginning inventory Purchase Purchase Sale Quantity Price/Cost 2,800 Your answer is incorrect. 3,800 eTextbook and Media 4,300 4,800 4,000 Weighted-average cost per unit $ $17 26 43 33 Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) 48

Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 4/2 11/4 Transaction 2/20 Sale (a) Beginning inventory Purchase Purchase Sale Quantity Price/Cost 2,800 Your answer is incorrect. 3,800 eTextbook and Media 4,300 4,800 4,000 Weighted-average cost per unit $ $17 26 43 33 Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) 48

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 37BE: Lower of Cost or Market Garcia Company uses FIFO, and its inventory at the end of the year was...

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Presented below is information related to Rembrandt Inc.’s inventory. 000(per unit)000 00Skis00 0Boots0 Parkas Historical cost $190.00 $106.00 $53.00 Selling price 212.00 145.00 73.75 Cost to sell 19.00 8.00 2.50 Cost to complete 32.00 29.00 21.25 Determine the following: (a) the net realizable value for each item, and (b) the carrying value of each item under LCNRV.
Gatekeeper Company has two products with cost and selling prices as follows: Product X Product Y Selling price Estimated selling cost 2,000,000 600,000 3,000,000 700,000 Materials and conversion 1,500,000 1,800,000 cost General administration cost 300,000 800,000 At year-end, the manufacture of inventory has been completed but no selling cost has been incurred. Question 1: Under the LCNRV by individual item, the inventory shall be measured at what amount? Question 2: Under the LCNRV by total, the inventory shall be measured at what amount?
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Current Attempt in Progress Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 2/20 4/2 11/4 (a) Transaction Beginning inventory Purchase Sale Purchase Sale Quantity Price/Cost 2,800 Your answer is incorrect. 3,800 Weighted-average cost per unit 4,300 4,800 4,000 $17 $ 26 43 33 Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) 48 REFERA montierung MO
Determine the LCNRV valuation using inventory categories. BE6.8 (LO 4), AP Wahlowitz Video Center accumulates the following cost and net realizable value data at December 31. Cost Data Inventory Categories Cameras Camcorders Blu-ray players Compute the lower-of-cost-or-net realizable value for the company's total inventory. Compute inventory turnover and days in inventory. $12,500 9,000 13,000 Net Realizable Value Data $13,400 9,500 12,200
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Splish Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 2/20 4/2 11/4 (a) Transaction Beginning inventory Purchase Sale Purchase Sale Quantity Price/Cost Average-cost per unit $ 3,400 4,400 4,900 5,400 4,600 $19 28 47 36 51 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)
APOL Company provided the following information related to the ending inventory of its Product X: Historical Cost – P6,800; Replacement cost - P7,000; Selling Price P10,000; Cost to sell - P1,200; Cost to complete - P1,500. APOL measures its inventory at lower of cost and net realizable value. At what amount should the company's inventory be reported in its Statement of Financial Position? O7,300 O 7,000 6,800 5.500 Answer not given O OO