expert pleease solve this. General account subject question Charapata Company applied FIFO to its inventory and got the followingresults for its ending inventory.Cameras113 units at a cost per unit of $62Blu-ray players166 units at a cost per unit of $72143 units at a cost per unit of $83iPodsThe 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.

To calculate the ending inventory at the lower-of-cost-or-market (LCM), we compare the cost per unit…

Answered: Charapata Company applied FIFO to its…

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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Crane Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 100 units at a cost per unit of $60 Blu-ray players 150 units at a cost per unit of $70 iPods 120 units at a cost per unit of $80 The net realizable value at year-end was cameras $70, Blu-ray players $65, and iPods $75.Determine the amount of ending inventory at lower-of-cost-or-net realizable value. Ending inventory
Serebin Company applied FIFO to its inventory and got the following results for its ending inventory. Please solve these general accounting question
Akira Company had the following transactions for the year. Sales for the year are $25 per unit. Number of units Cost per Unit Beginning Inventory 150 $10 Purchased Mar. 31 160 12 Purchased Oct. 15 130 15 Ending Inventory 50 ? In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using periodic inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$".…
Co. C has the following units of beginning inventory and purchases for the year: beginning inventory 300 units at $20 each and a 2/28 purchase 300 units at $40 each. Using the FIFO method, if the ending inventory is 200 units, what is the cost of the ending inventory?
Writing.com has a beginning inventory of 16 sets of pens at a cost of $2.12 each. During the year, Writing.com purchased 8 sets at $2.15, 9 sets at $2.25, 14 sets at $3.05, and 13 sets at $3.20. By the end of the year, 29 sets were sold. Ending Inventory 31 pens. Calculate the cost of ending inventory under LIFO, FIFO, and weighted-average methods. ( Round your intermediate calculation and final answers to the nearest cent).
Presented below is information related to Rembrandt Inc.’s inventory. (per unit) Skis Boots Parkas Historical cost $190.00 $106.00 $53.00 Selling price 212.00 145.00 73.75 Cost to sell 19.00 8.00 2.50 Cost to complete 32.00 29.00 21.25 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV.
Vargas Company uses the perpetual inventory system and the FIFO cost flow method. During the current year, Vargas purchased 400 units of inventory that cost $15.00 each. At a later date during the year, the company purchased an additional 800 units of inventory that cost $18.00 each. Vargas sold 500 units of inventory for $27.00. What is the amount of cost of goods sold that will appear on the current year's income statement? Multiple Choice ο ο ο ο $4,500 $6,000 $7,800 $5,700
Subject:- General Account
SLR Corporation has 2,500 units of each of its two products in its year-end inventory. Per unit data for each of the products are as follows: Product 1Product 2Cost$80$50Selling price$145$51Costs to sell$11$3 Determine the carrying value of SLR’s inventory (i.e., ending balance) assuming that the lower of cost or net realizable value (LCNRV) rule is applied to individual products.
A company had the following purchases during the current year: January: February: May: September: November: 10 units at $120 20 units at $125 15 units at $130 12 units at $135 10 units at $140 On December 31, there were 26 units remaining in ending inventory. Using the LIFO inventory valuation method, what is the cost of the ending inventory? ☐ $3,280. ○ $3,200. ○ $3,540. ☐ $3,445. ○ $3,640.
the following units of an item were available for sale during the year: Beginning inventory 25 units @ $40 Sale 16 units @ $58 First purchase 35 units @ $41 Sale 25 units @ $59 Second purchase 30 units @ $44 Sale 21 units @ $60 The firm uses the perpetual inventory system, and there are 28 units of the item on hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? b. What is the total cost of the ending inventory according to LIFO?

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