Company A purchased 1, 000 inventory and has 200 inventory in itsending inventory at a cost of S91 each and a net realizable value ofS80 each. The ending inventory under LCNRV is ?

Sunland Corporation had the following items in inventory as at December 31, 2023: Item No. A1 84 C2 D3 (a) Quantity 4 120 110 190 120 Inventory 1 Unit Cost $3.20 Inventory 1.70 8.50 7.50 Your answer is partially correct. Assume that Sunland uses a periodic inventory system, and that none of the inventory items can be grouped together for accounti purposes. The opening inventory on January 1, 2023, was $3,200 in total. Account Titles and Explanation Allowance to Reduce Inventory to NRV NRV $3.80 1.10 Prepare the year-end adjusting entries required to adjust to the lower of cost or net realizable value using the direct method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. List all debit entries before credit entries.) 10.30 7.10 (To transfer out beginning inventory balance) Allowance to Reduce Inventory to NRV (To record ending inventory at…

Gg.149.

Star Company recognized $500 of cost of goods sold. Note that Star is only recording the cost of goods sold part of the transaction and not the sales revenue. Star uses the perpetual inventory system. Which of the following answers reflects the effect of recognizing the cost of goods sold on the financial statements? Balance Sheet Income Statement Assets = A. 500 B. (500) C. (500) D. (500) Multiple Choice O O оо Liabilities + - Option B Option A Option C Option D (500) Stockholders' Equity 500 (500) n/a (500) Revenue n/a n/a n/a n/a - Expense 500 500 500 n/a Net Income (500) (500) (500) n/a Statement of Cash Flows n/a n/a 500 Operating Activity n/a

Floyd Corporation has the following four items in its ending inventory. 000Item000 000Cost000 Net Realizable 0Value (NRV)0 Jokers $2,00000 $2,100000 Penguins 5,00000 4,950000 Riddlers 4,40000 4,625000 Scarecrows 3,20000 3,830000 Determine the following: (a) the LCNRV for each item, and (b) the amount of write-down, if any, using (1) an item-by-item LCNRV evaluation and (2) a total category LCNRV evaluation.

Ayayai has the following individual inventory items at cost and net realizable value: Part Units Unit Cost X123 Y135 Z246 A369 B258 (a) 21 30 27 9 14 $4.80 3.15 4.60 1.10 2.25 NRV per Unit $4.30 3.90 5.35 1.10 1.95 Determine the lower of cost and net realizable value of the ending inventory for Ayayai. (Round answers to 2 decimal places, e.g. 15.25.) Lower of cost and net realizable value $

P palace provided the following Information:Ending inventory, previous period$95,500Ending inventory, current period$105,500Sales, previous period$450,550Sales, current period$540,450Determine the Inventory turnover for current period, assuming that gross profit for $195,405.3.43 times2.99 times3.27 times3.61 times

Answer the following 2 questions: 1- Hani has an inventory at 1/1/2020 of €60,000 and purchases during 2020 of €280,000, both at cost. Sales at selling price amount to €200,000. Compute the estimated inventory at 31/12/2020, assuming that the gross profit is 25% of sales. v a-290000 b-190000 c-230000 d-150000 2- Which of the following is a product cost as it relates to inventory? v a. Selling costs. b. Interest costs. C. Raw materials. d. Abnormal spoilage.

Hh1. just Item E and Item G

what is the value of a, b, c, and d?