Hartman Industries manufactures and sells products in four different product lines (Alpha, Beta, Delta, and Gamma). The cost and market value of its inventory is as follows: Product Line Cost Market Value Alpha Beta Delta Gamma $94,500 $88,200 $127,300 $135,600 $219,800 $202,400 $146,700 $152,900 Determine the value of the company's inventory under the lower-of-cost-or-market value approach.

GENERAL ACCOUNT Moberg Company sells three different categories of tools (small, medium, and large). The cost and market value of its inventory of tools are as follows. Cost Market Value Small $ 63,000 $ 74,000 Medium 2,80,000 2,70,000 1,81,000 Large 1,62,000 Determine the value of the company's inventory under the lower-of-cost or market value approach.

Determine the value of the company's inventory

Cody Company sells three different categories of tools (small, medium, and large). The cost and market value of its inventory of tools are as follows: Cost Market Small Medium $ 64,000 $ 73,000 2,90,000 2,60,000 Large 1,52,000 1,71,000 Determine the value of the company's inventory under the lower-of-cost-or-market approach. Note: general account question answer it short and simple

General Account

Subject. general account

Subject = General Account

Note: general account

Byron Company has five products in its inventory and uses the FIFO cost flow assumption. Specific data for each product are as follows: Estimated Cost of Disposal Product A B C D E Cost $90,000 110,000 60,000 100,000 105,000 B Selling Price $150,000 120,000 70,000 115,000 110,000 Required: 1. What is the correct inventory value, assu ing the LCNRV rule is applied to each item of inventory? Product Inventory Value A C D $20,000 15,000 5,000 5,000 8,000 E Total 2. What is the correct inventory value, assuming the LCNRV rule is applied to the total of inventory? losses relative to applying the rule to 3. Next Level Comment on any differences that result from applying the LCNRV nule to individual items compared to the total of inventory Applying the LCNRV rule to the total of inventory will result in The result occurs because the application of the LCNRV rule to groups of inventory allows price inventory valuations and the units

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