Crane Ltd. had the following items in inventory as at December 31, 2024: Item No. Quantity Unit Cost NRV A1 340 $4.00 $4.30 B4 370 3.00 2.90 C2 380 8.00 9.00 D3 400 7.00 6.80 Assume that Crane uses a perpetual inventory system. Fill in the table below for the lower of cost and net realizable value per unit, the inventory dollar amount at the lower of cost and net realizable value, and the dollar amount of the inventory at cost. Unit ntity Cost NRV Unit LC & NRV 340 $4.00 $4.30 S 370 3.00 2.90 Dollar LC & NRV 4,00 S 2.90 Dollar Cost 1360 S 1073 1360 1110 380 8.00 9.00 8.00 3040 3040 400 7.00 6.80 6.80 2720 2800 $ 8193 8310

Crane Ltd. had the following items in inventory as at December 31, 2024: Item No. Quantity Unit Cost NRV A1 340 $4.00 $4.30 B4 370 3.00 2.90 C2 380 8.00 9.00 D3 400 7.00 6.80 Assume that Crane uses a perpetual inventory system. Fill in the table below for the lower of cost and net realizable value per unit, the inventory dollar amount at the lower of cost and net realizable value, and the dollar amount of the inventory at cost. Unit ntity Cost NRV Unit LC & NRV 340 $4.00 $4.30 S 370 3.00 2.90 Dollar LC & NRV 4,00 S 2.90 Dollar Cost 1360 S 1073 1360 1110 380 8.00 9.00 8.00 3040 3040 400 7.00 6.80 6.80 2720 2800 $ 8193 8310

Name: Crane Ltd. had the following items in inventory as at December 31, 20
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Description: Crane Ltd. had the following items in inventory as at December 31, 2024:ItemNo.QuantityUnit CostNRVདྷྭ སྒྲ སཱུ སྦ340$4.00$4.303703.002.903808.009.004007.006.80Assume that Crane uses a perpetual inventory system.Fill in the table below for the lower

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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