Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Apparel Supplies Boots $ 149,000 $ 103,000 $ 69,000 144,000 66,950 86,950 125,000 Skis $ 175,000 138,000 Replacement cost 118,000 Sales commission 10 Selling price Cost $125,000. $134,100. $144,000. % 10 O$96,850. % 10 96 48,300 44,300 10 In applying the lower of cost or net realizable value rule, the inventory of boots would be valued at: 96

Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Apparel Supplies Boots $ 149,000 $ 103,000 $ 69,000 144,000 66,950 86,950 125,000 Skis $ 175,000 138,000 Replacement cost 118,000 Sales commission 10 Selling price Cost $125,000. $134,100. $144,000. % 10 O$96,850. % 10 96 48,300 44,300 10 In applying the lower of cost or net realizable value rule, the inventory of boots would be valued at: 96

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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Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Apparel Supplies Selling price $ 180,000 $ 140,000 $ 120,000 $ 60,000 Cost 128,000 133,000 90,000 45,000 Replacement cost 120,000 130,000 110,000 41,000 Sales commission 10 % 10 % 10 % 10 % In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at: Multiple Choice $162,000. $128,000. $120,000. $180,000.
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Saved Help sp 2022 G The Regal Cycle Company manufactures three types of bicycles-a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter follow: Mountain Racing Bikes Total Dirt Bikes Bikes $ 925,000 466,000 459,000 $ 264,000 117,000 147,000 $ 403,000 191,000 212,000 $ 258,000 158,000 100,000 Sales Variable manufacturing and selling expenses Contribution margin Fixed expenses: Advertising, traceable Depreciation of special equipment Salaries of product-line managers Allocated common fixed expenses* Total fixed expenses 70,000 42,900 114,800 185,000 412,700 8,700 20,500 40,500 52,800 122,500 40,700 7,200 38,800 80,600 167,300 20,600 15,200 35,500 51,600 122,900 $ (22,900) Net operating income (loss) $ 46,300 $ 24,500 $ 44,700 *Allocated on the basis of sales dollars. Management is concerned about the continued losses shown by the racing bikes and wants a recommendation as to whether or not the line should be discontinued. The special equipment…
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