how much is the inventory write down for the finished goods?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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how much is the inventory write down for the finished goods?

 

problem-5 - Microsoft Excel (Product Activation Failed)
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1
Derek's accountant provided you with the following information regarding inventory on hand on December 31,
2
used in the manufacture of two product lines: motorbikes and bicycles
3
4
Cost
NRV
5
Raw Materials
6
Supply of Steel (used for motorbikes)
40,000.00
25,000.00
Supply of aluminum (used for bicycles)
60,000.00
50,000.00
8
9
Work in Rocess
10
Incomplete motorbikes
30,000.00
25,000.00
11
Incomplete bicycles
50,000.00
60,000.00
12
13
Finished Goods
14
Motorbikes
80,000.00
60,000.00
15
Bicycles
80,000.00
110,000.00
16
17
cost of sales before any adjustments to the inventory was P 450,000.
I Sheet1
Ready
100%
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4:00 PM
EN
ull
4/13/2021
Transcribed Image Text:problem-5 - Microsoft Excel (Product Activation Failed) File Home Insert Page Layout Formulas Data Review View ... E- Insert - Σ Calibri - 11 A A General E* Delete *.0 .0 Conditional Format as Formatting Table - Paste Cell Sort & Find & В I U % EE Format - Styles - Filter Select - Clipboard E Font Alignment Number Styles Cells Editing АЗ fe A B D E H K M N 1 Derek's accountant provided you with the following information regarding inventory on hand on December 31, 2 used in the manufacture of two product lines: motorbikes and bicycles 3 4 Cost NRV 5 Raw Materials 6 Supply of Steel (used for motorbikes) 40,000.00 25,000.00 Supply of aluminum (used for bicycles) 60,000.00 50,000.00 8 9 Work in Rocess 10 Incomplete motorbikes 30,000.00 25,000.00 11 Incomplete bicycles 50,000.00 60,000.00 12 13 Finished Goods 14 Motorbikes 80,000.00 60,000.00 15 Bicycles 80,000.00 110,000.00 16 17 cost of sales before any adjustments to the inventory was P 450,000. I Sheet1 Ready 100% W 4:00 PM EN ull 4/13/2021
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