Consider the following case and calculate the missing information. Cost of Cost of Cost of Sales Beginning Goods Gross Purchases Goods Ending Revenue Inventory Available Profit Sold Inventory for Sale $900 $1,000 $1,100 $1,200

Calculate the missing information for the purchase. Item SellingPrice(in $) SalesTaxRate SalesTax(in $) ExciseTax Rate ExciseTax TotalPurchase Price Book $ 8 $ 0 0 $19.44

You are given the following data in relation to two items held in inventory. Item A Item B Purchase price Select one: O a. 230 b. 240 O c. 170 d. 196 e. 206 160 40 200 Costs incurred to date 20 10 30 Estimated selling price 170 80 250 Selling costs 24 20 44 What is the aggregate amount at which inventories of these items should be stated in the statement of financial position?

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Applying the lower of cost or market to each item of inventory, what should the total inventory value be for the following items? Item InventoryQuantity Cost perUnit Market Valueper Unit TotalCost TotalMarket A 300 $15.00   $14.50       $4,500    $4,350    B 200 14.00   15.00       2,800    3,000    C 100 17.00   17.50       1,700    1,750    a. $8,850 b. $9,100 c. $9,250 d. $9,000

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In some instances, accounting principles require a departure from valuing inventories at cost alone. Determine the proper unit inventory price in the following cases using LCNRV.   Cases   00100 00200 00300 00400 00500 Cost $15.90 $16.10 $15.90 $15.90 $15.90 Sales value 14.80 19.20 15.20 10.40 17.80 Estimated cost to complete 1.50 1.90 1.65 .80 1.00 Estimated cost to sell .50 .70 .55 .40 .60

31. Apply the Retail Inventory Method to calculate the cot of ending invery Cost Beginning inventory Net purchanes Sales Ratail $20.224 $31600 59.508 97000 .00

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On the basis of the data shown below: Inventory Cost per Market Value per Unit Item Quantity Unit (Net Realizable Value) МX62 80 $42 $40 05T4 155 20 23 Determine the value of the inventory at the lower of cost or market by applying lower of cost or market to each inventory item, as shown in Exhibit 9. $ 6,925 x