25. W Company carried four items in inventory. The following per-unit data relate to these items atthe end of first year of operations:UnitsCostSale price$elling costNormal profitCategory 1:A25,00020,0001051301520В85901010Category 2C40,000504055D30,00065751510What is the measurement of inventory under LCNRV applied to individual item?a. 7,625,000b. 8,275,000c. 7,425,000d. 7,875,000

Name: 25. W Company carried four items in inventory. The following per-unit
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Description: 25. W Company carried four items in inventory. The following per-unit data relate to these items atthe end of first year of operations:UnitsCostSale price$elling costNormal profitCategory 1:A25,00020,0001051301520В85901010Category 2C40,000504055D30,

LCNRV stands for Lower of cost or Net Realizable value is defined as the method of inventory which…

Business

Accounting

25. W Company carried four items in inventory. The following per-unit data relate to these items at the end of first year of operations: Units Cost Sale price $elling cost Normal profit Category 1: A 25,000 105 130 15 20 B 20,000 85 90 10 10 Category 2 40,000 30,000 C 50 40 D 65 75 15 10 What is the measurement of inventory under LCNRV applied to individual item? a. 7,625,000

25. W Company carried four items in inventory. The following per-unit data relate to these items at the end of first year of operations: Units Cost Sale price $elling cost Normal profit Category 1: A 25,000 105 130 15 20 B 20,000 85 90 10 10 Category 2 40,000 30,000 C 50 40 D 65 75 15 10 What is the measurement of inventory under LCNRV applied to individual item? a. 7,625,000

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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Consider the following information: Units Cost per unit Total costs Goods in inventory at start of year 1,600 $1.92 $3,072 Purchases, quarter 1 800 $1.40 $1,120 Purchases, quarter 2 1,000 $1.60 $1,600 Purchases, quarter 3 1,200 $1.80 $2,160 Purchases, quarter 4 800 $2.00 $1,600 5,400 $9,552 Goods sold during the year: 3000 units Using the weighted-average-cost method, the value of ending inventory is:
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Ending Inventory?
N5. Account
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