Current Attempt in Progress The inventory of Blue Company on December 31, 2025, consists of the following items. Part 110 111 112 113 120 121 a 122 Quantity 610 920 460 210 410 1,500 320 Cost per Unit $136.00 85.80 114.40 243.10 293.00 23.00 343.20 Inventory as of December 31, 2025 $ Net Realizable Value $143.00 74.00 Inventory as of December 31, 2025 $ 109.00 257.40 297.00 1.00 Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2025, by the LCNRV method, applying this method to each item. 336.00 (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory.

Current Attempt in Progress The inventory of Blue Company on December 31, 2025, consists of the following items. Part 110 111 112 113 120 121 a 122 Quantity 610 920 460 210 410 1,500 320 Cost per Unit $136.00 85.80 114.40 243.10 293.00 23.00 343.20 Inventory as of December 31, 2025 $ Net Realizable Value $143.00 74.00 Inventory as of December 31, 2025 $ 109.00 257.40 297.00 1.00 Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2025, by the LCNRV method, applying this method to each item. 336.00 (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory.

Name: Current Attempt in ProgressThe inventory of Blue Company on December
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Description: Current Attempt in ProgressThe inventory of Blue Company on December 31, 2025, consists of the following items.Part110111112113120121 a122Quantity6109204602104101,500320Cost per Unit$136.0085.80114.40243.10293.0023.00343.20Inventory as of December 3

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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