The following information pertains to the physical inventory of Electronics Unlimited taken at December 31: Product Audio equipment: Wireless audio receivers Touchscreen MP3 players Audio mixers Audio stands Video equipment: Televisions Per Unit Units on Hand Cost NRV 344 $181 $192 259 216 196 325 170 186 203 96 78 479 291 246 5GB video cards 290 176 164 Satellite video recorders 211 611 640 Car equipment: GPS navigators 184 138 164 Double-DIN Car Deck with iPod/iPhone Control 169 191 206 and Aux Input Required: 1. Calculate the LCNRV for the: a. inventory by major group. b. inventory, applied separately to each product. Per Unit LCNRV applied to: a. Inventory Items Units on Hand b. Separately Cost NRV Total cost Total NRV Major to Each Group Product Audio equipment Wireless audio receivers 344 $ 181 $ 192 Touchscreen MP3 players 259 216 196 Audio mixers 325 170 186)
The following information pertains to the physical inventory of Electronics Unlimited taken at December 31: Product Audio equipment: Wireless audio receivers Touchscreen MP3 players Audio mixers Audio stands Video equipment: Televisions Per Unit Units on Hand Cost NRV 344 $181 $192 259 216 196 325 170 186 203 96 78 479 291 246 5GB video cards 290 176 164 Satellite video recorders 211 611 640 Car equipment: GPS navigators 184 138 164 Double-DIN Car Deck with iPod/iPhone Control 169 191 206 and Aux Input Required: 1. Calculate the LCNRV for the: a. inventory by major group. b. inventory, applied separately to each product. Per Unit LCNRV applied to: a. Inventory Items Units on Hand b. Separately Cost NRV Total cost Total NRV Major to Each Group Product Audio equipment Wireless audio receivers 344 $ 181 $ 192 Touchscreen MP3 players 259 216 196 Audio mixers 325 170 186)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
s
Transcribed Image Text:The following information pertains to the physical inventory of Electronics Unlimited taken at December 31:
Product
Audio equipment:
Wireless audio receivers
Touchscreen MP3 players
Audio mixers
Audio stands
Video equipment:
Televisions
Per Unit
Units on
Hand
Cost
NRV
344
$181
$192
259
216
196
325
170
186
203
96
78
479
291
246
5GB video cards
290
176
164
Satellite video recorders
211
611
640
Car equipment:
GPS navigators
184
138
164
Double-DIN Car Deck with iPod/iPhone Control
169
191
206
and Aux Input
Required:
1. Calculate the LCNRV for the:
a. inventory by major group.
b. inventory, applied separately to each product.
Per Unit
LCNRV applied to:
a.
Inventory
Items
Units on Hand
b.
Separately
Cost
NRV
Total cost
Total NRV
Major
to Each
Group
Product
Audio equipment
Wireless audio receivers
344 $
181 $
192
Touchscreen MP3 players
259
216
196
Audio mixers
325
170
186)
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