BEBE Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion cost of beginning inventory of P9,800; current period conversioncosts of P204,125. The unit conversion cost using weighted average method is: 0.70 0.86 0.82 none of the choices

Q: What would be NUBD’s finished inventory cost at December 31, 2021 under the variable costing method?…

A: Under the variable costing, only variable cost of goods manufactured are taken as a product cost.…

Q: The inventory of Royal Decking consisted of five products. Information about ending inventory is as…

A: Inventory means the detailed list or stock of items, goods, or materials held by a business or…

Q: of 3 ook ences Required information [The following information applies to the questions displayed…

A: The objective of the question is to calculate the gross margin for Mason Company using three…

Q: Forest Company has five products in its Inventory. Information about ending inventory follows. Unit…

A: By comparing the product cost and market value, the inventory valuation approach known as the LCM…

Q: The following transactions of Heron Ltd took place during January 2022 in respect of component X…

A: The weighted average cost method is used for calculating the closing inventory and it is to be…

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Weighted average method: Unit Conversion cost = Total conversion cost / EUP

Q: What is the correct answer to question 1 and 2? Provide solution.

A: Computation of net realisable value Selling price - estimated selling cost For X 2,000,000 - 600,000…

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: FIFO is the method whereby the units bought at first are to be sold off first.

Q: es The following information pertains to Mason Company for Year 2: Beginning inventory 110 units @…

A: The cost of goods sold is the formula that determines the cost of products sold during the financial…

Q: Lower-of-Cost-or-Net Realizable Value Method The McQuenny Company's ending inventory is composed of…

A: Inventory is one of useful current asset being used in business. It can be in form of raw materials,…

Q: Lower-of-Cost-or-Net Realizable Value Method The Claremont Company’s ending inventory is composed of…

A: NRV stands for Net realizable value. Using Net realizable value method, the inventory is valued at…

Q: The Claremont Company’s ending inventory is composed of 50 units that had cost $20 each and 100…

A: Since the company applies lower-of-cost-or-net realizable value on a group-wise basis, we must…

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Total conversion cost = beginning cost+ current period cost = 9800+204125 = P213925

Q: BEBE Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: EUP of beginning units = beginning units x% Completed   = 22500 x 40%   = 9000

Q: BEBE Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Total conversion cost = beginning cost+ current period cost   = 9800+204125   = P213925

Q: Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its…

A: INVENTORY VALUATION SYSTEM   Inventory Valuation is a Method of Calculation of Value of Inventory…

Q: ($) ('$) Unit Total Balance Cost in Units 50 Date Explanation Units Cost Jun-01Beginning inventory…

A: FIFO: COGS = 50 units x $1 + 10 units x $1.2 + 40 units x $1.2 + 110 units x $1.4 = $50 + $12 + $48…

Q: You are considering purchasing 850 units of inventory. Requirements: 1. Determine which supplier…

A: The purchase is the sum of the invoice price, transportation cost for bringing goods, and the…

Q: None

A: Net realizable value (NRV) is the value of an asset in open market when sold. It is also termed as…

Q: be Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: The per-unit cost can be calculated by dividing the total cost by the equivalent unit of production.

Q: ibe corporation has an eup of 248,750 units. beginning inventory units of 22,500, 40% incomplete:…

A: Unit conversion cost using FIFO method = Current period conversion cost / EUP

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Total conversion cost = beginning cost+ current period cost   = 9800+204125   = P213925

Q: ware Company reported the following: Manufacturing costs Units manufactured Units sold Beginning…

A: Manufacturing cost consist of costs which are incurred during the process of production and it…

Q: 5 based on market conditions, Information on costs WIP inventory-Refining Beginning inventory…

A: Equivalent units of production means converting the work-in-progress of incomplete units into…

Q: The company began its operation in 20X1. At the end of 20X1, the cost of inventory was $160,000…

A: Under the allowance method, an allowance account is credited equally to the difference of cost or…

Q: Chris Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Total conversion cost = beginning cost+ current period cost   = 9800+204125   = P213925

Q: Required information [The following information applies to the questions displayed below.] The…

A:

Q: be Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Calculation of unit   Note :- beginning completed percentage = 100% - 40% = 60% Particular…

Q: Weighted-average costs per equivalent unit are $2 for direct materials and $3 for conversion. There…

A: Cost of the goods completed:Cost of goods completed represents the total cost incurred for the…

Q: Kamin Company's mixing department had a beginning inventory of 4,000 units which had accumulated…

A: Cost per unit is the amount of cost incurred on the making of each unit produced. It include the…

Q: Splish Company is a multiproduct firm. Presented below is information concerning one of its…

A: INVENTORY VALUATIONInventory Valuation is a Method of Calculation of Value of Inventory at the End…

Q: mated net realizable value method to allocate the joint cost. The cost of product E sold for the…

A: As per NRV method, the net realizable value at split off point is used to allocate the joint cost.

Q: he inventory of Royal Decking consisted of five products. Information about ending inventory is as…

A: Per Unit Cost under LCM = Lower of Cost or Market ValueUnder the US GAAP "market" gen­er­ally means…

Q: What would be NUBD’s finished inventory cost at December 31, 2021 under the variable costing method?…

A: Only variable cost of goods manufactured are associated to product cost under variable costing…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.