physical inventory of Liverpool Company taken at December 31 reveals the following.       Per Unit Item Units Cost Market Car audio equipment               Speakers 351 $ 106   $ 114   Stereos 266   127     117   Amplifiers 332   102     111   Subwoofers 210   68     58   Security equipment               Alarms 486   166     156   Locks 297   109     99   Cameras 218   328     338   Binocular equipment               Tripods 191   90     100   Stabilizers 176   111     121       Required: 1. Calculate the lower of cost or market for the inventory applied separately to each item. 2. If the market amount is less than the recorded cost of the inventory, then record the LCM adjustment to the Merchandise Inventory account.

Your answer is incorrect. Inventory data for Shamrock Company are reported as follows: Date Explanation Number of Units Unit Cost Total Cost June 1 Beginning inventory 370 $5 $1,850 CL Purchase 570 6 3,420 23 Purchase 470 7 Assume a sale of 610 units occurred on June 15 for a selling price of $8 and a sale of 530 units on June 27 for $9. On June 30, 270 units remain in inventory. Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. (Round the weighted average cost per unit to 3 decimal places, eg. 5.271 and final answers to 2 decimal places, eg. 5,275.75.) Weighted Average Ending inventory $ 1,639.90 Cost of goods sold $ 6,924.80

Waterway Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item   Units   Cost per Unit   Net RealizableValue per Unit Cameras:                      Minolta   8     $163     $155      Canon   10     154     156   Light Meters:                      Vivitar   20     121     110      Kodak   15     120     135

Bramble Corp. accumulates the following cost and net realizable value data on December 31. Inventory Categories Cost Data Net Realizable Value Cameras $ 10,280 $ 11,520 Camcorders 8,410 9,170 DVDs 11,570 10,430 Compute the lower-of-cost-or-net realizable value for the company's inventory. * SZILWELL 500X

Skysong Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item Cameras: Minolta Canon Light meters: Vivitar Kodak Units Unit Cost 6 11 13 18 $173 146 The ending inventory $ 136 125 Net Realizable Value $163 170 104 128 What amount should be reported for inventory on Skysong Camera Shop's balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied?

Someone gave me this answer : cost of ending inventory : 26,300  Cost of goods sold: 36,370 And it is not correct

Given the following:    Numberpurchased Costper unit Total January 1 inventory   32     $ 4     $ 128   April 1   52       6       312   June 1   42       7       294   November 1   47       8       376       173             $ 1,110      a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 53 units).     b. Calculate the cost of goods sold using the FIFO (ending inventory shows 53 units).

The Rock Shop shows the following data related to one of the minerals in inventory: Inventory, January 1 300 units @ $5.00 900 units @ $5.40 Purchase, January 9 Purchase, January 19 Total available 210 units @ $6.00 1,410 units O $1,500 $5,874 = If there are 300 units in inventory on January 31, what value should be assigned to cost of goods sold using FIFO? O $1,746 $6,120 $1,500 $4,860 $1,260 $7,620

I need