The inventory for Ji-Leng Company on 12/31/17 consists of the following items: Part No. Quantity Cost...
Homework Answers
Calculate following
| Part No | Quantity | Cost | NRV | Lower of Cost and NRV |
| 1062 | 900 | 121500 | 135000 | 121500 |
| 1153 | 1500 | 135000 | 117000 | 117000 |
| 1249 | 750 | 90000 | 85500 | 85500 |
| 1350 | 300 | 76500 | 81000 | 76500 |
| Total | 423000 | 418500 | 400500 |
a) Inventory value = $400500
b) Inventory value = 418500
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The inventory for Ji-Leng Company on 12/31/17 consists of the
following items:
Part No. Quantity Cost...
The inventory of Sheridan Company on December 31, 2020, consists of the following items. Part Quantity...
The inventory of Sheridan Company on December 31, 2020,
consists of the following items.
Part
Quantity
Cost per Unit
Net Realizable Value
110
600
$107.00
$113.00
111
1,000
67.80
59.00
112
500
90.40
86.00
113
210
192.10
203.40
120
410
232.00
235.00
121
a
1,600
18.00
1.00
122
270
271.20
266.00
a Part No. 121 is obsolete and has a realizable value of
$1.00 each as scrap.
(a) Determine the inventory as of December 31,
2020, by the LCNRV method,...
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The inventory of Cullumber Company on December 31, 2017, consists of the following items. Part Quantity...
The inventory of Cullumber Company on December 31, 2017,
consists of the following items.
Part
Quantity
Cost per Unit
Net Realizable Value
110
640
$126
$133
111
1,100
80
69
112
450
106
101
113
190
226
239
120
410
273
277
121
a
1,700
21
1
122
320
319
313
a Part No. 121 is obsolete and has a realizable value of
$1 each as scrap.
(a) Determine the inventory as of December 31,
2017, by the LCNRV method,...
The following information concerns several of the inventory items at DC's. Net Realizable Value Quantity Unit...
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The lo g information concerns several of the inventory items at DC'S. 20 boints Net Realizable...
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The inventory of Sheridan Company on December 31, 2020,
consists of the following items.
Part
Quantity
Cost per Unit
Net Realizable Value
110
600
$107.00
$113.00
111
1,000
67.80
59.00
112
500
90.40
86.00
113
210
192.10
203.40
120
410
232.00
235.00
121
a
1,600
18.00
1.00
122
270
271.20
266.00
a Part No. 121 is obsolete and has a realizable value of
$1.00 each as scrap.
(a) Determine the inventory as of December 31,
2020, by the LCNRV method,...
The inventory of Blue Company on December 31, 2020, consists of the following items. Part Quantity Cost per Unit Net Realizable Value 110 610 $136.00 $143.00 111 85.80 74.00 920 460 112 114.40 109.00 113 210 257.40 243.10 293.00 410 297.00 121 a 1,500 23.00 1.00 122 320 343.20 336.00 Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this...
The inventory of Marigold Company on December 31, 2020, consists of the following items. Part Quantity Cost per Unit Net Realizable Value 110 650 $102.00 $107.00 111 1,050 64.20 56.00 112 85.60 81.00 210 181.90 192.60 120 420 219.00 223.00 121a 1,800 17.00 1.00 290 256.80 251.00 490 113 122 a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying...
The inventory of Cullumber Company on December 31, 2017,
consists of the following items.
Part
Quantity
Cost per Unit
Net Realizable Value
110
640
$126
$133
111
1,100
80
69
112
450
106
101
113
190
226
239
120
410
273
277
121
a
1,700
21
1
122
320
319
313
a Part No. 121 is obsolete and has a realizable value of
$1 each as scrap.
(a) Determine the inventory as of December 31,
2017, by the LCNRV method,...
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