Coastal Breeze Inc. sells four different products. The following information is available on December 31: Inventory Item Units Cost per unit Market value per unit A 420 $5.20 $4.80 675 $3.40 $3.60 890 $2.75 $2.50 1,150 $1.90 $1.70 After applying the lower-of-cost-or-net-realizable-value rule to each item, what will Coastal Breeze's total ending inventory balance be? a. $8,491.00 b. $7,318.00 c. $7,849.00 d. $7,116.00

Coastal Breeze Inc. sells four different products. The following information is available on December 31: Inventory Item Units Cost per unit Market value per unit A 420 $5.20 $4.80 675 $3.40 $3.60 890 $2.75 $2.50 1,150 $1.90 $1.70 After applying the lower-of-cost-or-net-realizable-value rule to each item, what will Coastal Breeze's total ending inventory balance be? a. $8,491.00 b. $7,318.00 c. $7,849.00 d. $7,116.00

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 2RE: Black Corporation uses the LIFO cost flow assumption. Each unit of its inventory has a net...

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