Current Attempt in Progress The following information relates to the inventories on hand at 30 June 2020 held by Canberra Ltd. Cost of completion and disposal Estimated Cost per unit 2$ Cost to replace 24 selling price 2$ Item no. Quantity A1458 541 2.30 2.64 3.62 0.48 A1965 777 3.70 3.25 3.60 0.54 B6730 677 7.5 7.65 9.00 1.01 D0943 103 1.34 1.16 1.00 0.12 G8123 141 3.68 3.87 6.10 0.71 W2167 1,477 6.10 6.62 0,34 Calculate the value of inventories on hand at 30 June 2020. (Enter your answer to the nearest cent.) Total inventories on hand at 30 June 2020 Save for Later Attempts: 0 of 3 used Submit Answer

Current Attempt in Progress The following information relates to the inventories on hand at 30 June 2020 held by Canberra Ltd. Cost of completion and disposal Estimated Cost per unit 2$ Cost to replace 24 selling price 2$ Item no. Quantity A1458 541 2.30 2.64 3.62 0.48 A1965 777 3.70 3.25 3.60 0.54 B6730 677 7.5 7.65 9.00 1.01 D0943 103 1.34 1.16 1.00 0.12 G8123 141 3.68 3.87 6.10 0.71 W2167 1,477 6.10 6.62 0,34 Calculate the value of inventories on hand at 30 June 2020. (Enter your answer to the nearest cent.) Total inventories on hand at 30 June 2020 Save for Later Attempts: 0 of 3 used Submit Answer

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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Current Attempt in Progress Crane Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. Product Cost Net realizable value A $119000 $127000 B 78000 C 151000 76000 O $346000 O $348000 O $369000 O $367000. 164000 D If Crane applies the LCNRV basis, the value of the inventory reported on the balance sheet would be
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