Encantadia Company had the following inventories on January 1, 2020: Inventory Cost Amihan 725,200 Danaya 817,300 Pirena 500,000 The related data on December 31, 2020: Inventory Estimated selling price Cost to complete Cost to sell Amihan 592,500 15,000 25,000 Danaya 715,000 12,000 22,500 Pirena 565,000 14,000 21,000 The entity uses a single item method. How much is the amount of loss on inventory writedown?

Encantadia Company had the following inventories on January 1, 2020: Inventory Cost Amihan 725,200 Danaya 817,300 Pirena 500,000 The related data on December 31, 2020: Inventory Estimated selling price Cost to complete Cost to sell Amihan 592,500 15,000 25,000 Danaya 715,000 12,000 22,500 Pirena 565,000 14,000 21,000 The entity uses a single item method. How much is the amount of loss on inventory writedown?

Name: Encantadia Company had the following inventories on January 1, 2020:I
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Description: Encantadia Company had the following inventories on January 1, 2020:InventoryCostAmihan725,200Danaya817,300Pirena500,000The related data on December 31, 2020:InventoryEstimated selling priceCost to completeCost to sellAmihan592,50015,00025,000Danaya

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PEB: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...

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