Lower-of-Cost-Net-Realizable-Value Method The following data are taken from the Browning Corporation’s inventory accounts: Item Code Quantity Unit Cost Net Realizable Value ACE 100 $27 $25 BDF 300 29 31 GHJ 400 22 18 MBS 200 23 27 Calculate the value of the company’s ending inventory using the lower-of-cost-or-net realizable value method applied to each item of inventory. Ending Inventory Value: $Answer
Lower-of-Cost-Net-Realizable-Value Method The following data are taken from the Browning Corporation’s inventory accounts: Item Code Quantity Unit Cost Net Realizable Value ACE 100 $27 $25 BDF 300 29 31 GHJ 400 22 18 MBS 200 23 27 Calculate the value of the company’s ending inventory using the lower-of-cost-or-net realizable value method applied to each item of inventory. Ending Inventory Value: $Answer
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 24CE: Inventory Costing: Average Cost Refer to the information for Filimonov Inc. and assume that the...
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Lower-of-Cost-Net-Realizable-Value Method
The following data are taken from the Browning Corporation’s inventory accounts:
Item Code |
Quantity |
Unit Cost |
Net Realizable Value |
---|---|---|---|
ACE | 100 | $27 | $25 |
BDF | 300 | 29 | 31 |
GHJ | 400 | 22 | 18 |
MBS | 200 | 23 | 27 |
Calculate the value of the company’s ending inventory using the lower-of-cost-or-net realizable value method applied to each item of inventory.
Ending Inventory Value: $Answer
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