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2025 $ Net Realizable Value $143.00 74.00 Inventory as of December 31, 2025 $ 109.00 257.40 297.00 1.00 Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap.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2025 $ Net Realizable Value $143.00 74.00 Inventory as of December 31, 2025 $ 109.00 257.40 297.00 1.00 Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap.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.
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 15P: (Appendix 8.1) Inventory Write-Down The following are the inventories for the years 2019, 2020, and...
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