problem is financial account please make sure to give correct answer At Hawkeye Security the basic professional grade security system has a cost of $812, a replacement cost of $775, a net realizable value of$800, and a normal profit margin of $50. Hawkeye Security would record as the inventory value for this product using the lower-of-cost-or-market rule.

Step 1: Identify Key ValuesCost: $812Replacement Cost: $775Net Realizable Value (NRV): $800Normal…

Answered: At Hawkeye Security the basic…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 4MC: If goods are shipped FOB destination, which of the following is true? A. Title to the goods will...

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The Company uses lower-of-cost-or-market approach. The replacement cost of an inventory item is $75. Net realizable value is $82.50. Net realizable value less a normal profit margin is $69. The cost of the item is $76.50. The inventory item would be valued at:
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At Hawkeye Security the basic professional grade security system has a cost of $812, a replacement cost of $775, a net realizable value of $800, and a normal profit margin of $50. Hawkeye Security would record as the inventory value for this product using the lower-of- cost-or-market rule.