E8.1 (LO 1) Excel (LCNRV) The inventory of Oheto Company on December 31, 2025, consists of the following items. Part 110 111 112 113. 120 205 121* 1,600 16 122 300 240 *Part No. 121 is obsolete and has a realizable value of $1 each as scrap Quantity 600 1,000 500 200 400 Cost per Unit $ 95 60 80 170 Net Realizable Value $100 52 76 180 208 1 235 Instructions a. Determine the inventory as of December 31, 2025, by the LCNRV method, applying this method to each item. b. Determine the inventory by the LCNRV method, applying the method to the total of the inventory.

E8.1 (LO 1) Excel (LCNRV) The inventory of Oheto Company on December 31, 2025, consists of the following items. Part 110 111 112 113. 120 205 121* 1,600 16 122 300 240 *Part No. 121 is obsolete and has a realizable value of $1 each as scrap Quantity 600 1,000 500 200 400 Cost per Unit $ 95 60 80 170 Net Realizable Value $100 52 76 180 208 1 235 Instructions a. Determine the inventory as of December 31, 2025, by the LCNRV method, applying this method to each item. b. Determine the inventory by the LCNRV method, applying the method to the total of the inventory.

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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