Sarasota Corporation has the following four items in its ending inventory: Item Neutrinos $ 1,880 4,920 Ocillinos Electrons Protons Item Neutrinos Ocillinos Electrons Cost Protons Total 4,330 3,390 Assume that Sarasota is a public company using IFRS. Determine the total value of ending inventory using the lower of cost and net realizable value model applied on an individual item basis. $ Estimated Selling Price $2,160 $ 4,820 4,665 4,400 Estimated Disposal Costs $107 115 LC and NRV 197 114

Sarasota Corporation has the following four items in its ending inventory: Item Neutrinos $ 1,880 4,920 Ocillinos Electrons Protons Item Neutrinos Ocillinos Electrons Cost Protons Total 4,330 3,390 Assume that Sarasota is a public company using IFRS. Determine the total value of ending inventory using the lower of cost and net realizable value model applied on an individual item basis. $ Estimated Selling Price $2,160 $ 4,820 4,665 4,400 Estimated Disposal Costs $107 115 LC and NRV 197 114

Name: 3 Sarasota Corporation has the following four items in its ending inve
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Description: 3 Sarasota Corporation has the following four items in its ending inventory:ItemNeutrinosOcillinosElectronsProtonsItemNeutrinosOcillinosElectronsProtonsCostTotal$ 1,8804,9204,330$3,390Assume that Sarasota is a public company using IFRS. Determine the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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