Alexander Corporation involves in school supplies business. The entity measured the inventory at the lower of cost and net realizable value. The data regarding the items of inventory are as follows: Notebooks Writing Papers Bond Papers Historical Cost 300,000 200,000 350,000 Selling Price 400,000 300,000 400,000 Estimated cost to complete 40,000 30,000 62,000 Replacement cost 280,000 160,000 360,000 Normal profit margin as a percentage of selling price 30% 30% 30% What is the measurement of inventory? P950,000

Alexander Corporation involves in school supplies business. The entity measured the inventory at the lower of cost and net realizable value. The data regarding the items of inventory are as follows: Notebooks Writing Papers Bond Papers Historical Cost 300,000 200,000 350,000 Selling Price 400,000 300,000 400,000 Estimated cost to complete 40,000 30,000 62,000 Replacement cost 280,000 160,000 360,000 Normal profit margin as a percentage of selling price 30% 30% 30% What is the measurement of inventory? P950,000

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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