A company has the following per unit original costs and replacement costs for its inventory. LCM is applied to individual items. Part A: 50 units with a cost of $5, and a replacement cost of $4.50. Part B: 75 units with a cost of $6, and a replacement cost of $6.50. Part C: 160 units with a cost of $3, and replacement cost of $2.50. Under the lower of cost or market method, the total value of this company's ending inventory is

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Nico Corp, has compiled the following information related to its three products. Costs of disposal are estimated to be 10% of selling price, and gross profit is estimated to be 20% of the selling price. Determine the value on inventory applying the lower-of-cost-or-market rule to each individual inventory item. Round each amount to the nearest dollar. Estimated selling price Original cost (LIFO) Replacement cost Inventory at the lower-of- cost-or-market #1 $600 500 400 $ #2 $400 250 350 $ #3 $500 450 475 $

Ross Electronics has one product in its ending inventory. Per unit data consist of the following: cost, $24; replacement cost, $22; selling price, $34; selling costs, $5. The normal profit is 25% of selling price.What unit value should Ross use when applying the lower of cost or market (LCM) rule to ending inventory?

Using the LIFO​ method, calculate the cost of ending inventory and cost of goods sold for Campini Corporation.

Byron Company has five products in its inventory and uses the FIFO cost flow assumption. Specific data for each product are as follows: Estimated Cost of Disposal Product A B C D E Cost $90,000 110,000 60,000 100,000 105,000 B Selling Price $150,000 120,000 70,000 115,000 110,000 Required: 1. What is the correct inventory value, assu ing the LCNRV rule is applied to each item of inventory? Product Inventory Value A C D $20,000 15,000 5,000 5,000 8,000 E Total 2. What is the correct inventory value, assuming the LCNRV rule is applied to the total of inventory? losses relative to applying the rule to 3. Next Level Comment on any differences that result from applying the LCNRV nule to individual items compared to the total of inventory Applying the LCNRV rule to the total of inventory will result in The result occurs because the application of the LCNRV rule to groups of inventory allows price inventory valuations and the units