Assume that Sarasota is a public company using IFRS. Determine the total value of ending inventory using the lower of cost and net realizable value model applied on an individual item basis. Item Neutrinos $ Ocillinos Electrons Protons Total $ LC and NRV Sarasota Corporation has the following four items in its ending inventory: Item Cost Estimated Selling Price Estimated Disposal Costs Neutrinos $ 1,880 $2,160 $107 Ocillinos 4,920 4,820 115 Electrons 4,330 4,665 197 Protons 3,390 4,400 114 3

Assume that Sarasota is a public company using IFRS. Determine the total value of ending inventory using the lower of cost and net realizable value model applied on an individual item basis. Item Neutrinos $ Ocillinos Electrons Protons Total $ LC and NRV Sarasota Corporation has the following four items in its ending inventory: Item Cost Estimated Selling Price Estimated Disposal Costs Neutrinos $ 1,880 $2,160 $107 Ocillinos 4,920 4,820 115 Electrons 4,330 4,665 197 Protons 3,390 4,400 114 3

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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