The following is a list of inventory items for Ducard Company on April 30. Item Quantity Unit Cost When Acquired Net Realizable Value Shoes 12 $ 42.00 $ 64.00 Sunglasses 23 28.00 35.00 Umbrellas 15 18.00 12.00 T-Shirts 17 8.00 8.00 Hats 28 12.00 10.00 Sandals 9 15.00 19.00 Boots 14 48.00 35.00 Keychains 35 $ 3.00 $ 5.00 Required Determine the current value of the Inventory. Use the lower of Cost or Net Realizable Value (NRV) to determine the value of inventory. Create a journal entry to mark down the inventory.

The following is a list of inventory items for Ducard Company on April 30. Item Quantity Unit Cost When Acquired Net Realizable Value Shoes 12 $ 42.00 $ 64.00 Sunglasses 23 28.00 35.00 Umbrellas 15 18.00 12.00 T-Shirts 17 8.00 8.00 Hats 28 12.00 10.00 Sandals 9 15.00 19.00 Boots 14 48.00 35.00 Keychains 35 $ 3.00 $ 5.00 Required Determine the current value of the Inventory. Use the lower of Cost or Net Realizable Value (NRV) to determine the value of inventory. Create a journal entry to mark down the inventory.

Name: man.2 The following is a list of inventory items for Ducard Company on
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Description: man.2 The following is a list of inventory items for Ducard Company on April 30. ItemQuantity Unit Cost When Acquired Net Realizable Value Shoes 12 $ 42.00 $ 64.00Sunglasses 23 28.00 35.00 Umbrellas 15 18.00 12.00 T-Shirts 17 8.00 8.00 Hats28 12.00 1

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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