Charapata Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 113 units at a cost per unit of $62 Blu-ray players 166 units at a cost per unit of $72 143 units at a cost per unit of $83 iPods The net realizable value of units purchased at year-end was cameras $85, Blu-ray players $60, and iPods $71. Determine the amount of ending inventory at lower-of-cost-or-market.
Charapata Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 113 units at a cost per unit of $62 Blu-ray players 166 units at a cost per unit of $72 143 units at a cost per unit of $83 iPods The net realizable value of units purchased at year-end was cameras $85, Blu-ray players $60, and iPods $71. Determine the amount of ending inventory at lower-of-cost-or-market.
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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Transcribed Image Text:Charapata Company applied FIFO to its inventory and got the following
results for its ending inventory.
Cameras
113 units at a cost per unit of $62
Blu-ray players
166 units at a cost per unit of $72
143 units at a cost per unit of $83
iPods
The net realizable value of units purchased at year-end was cameras
$85, Blu-ray players $60, and iPods $71.
Determine the amount of ending inventory at lower-of-cost-or-market.
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