ItemBaskets:InnovaDiscraftDisc bags:LightningWham-OUnits Unit Cost Market10201514$224Ending inventory $2123442$2321823140(a) Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis.

Name: ItemBaskets:InnovaDiscraftDisc bags:LightningWham-OUnits Unit Cost Ma
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Description: ItemBaskets:InnovaDiscraftDisc bags:LightningWham-OUnits Unit Cost Market10201514$224Ending inventory $2123442$2321823140(a) Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis.

As per IAS/IFRS 2 Inventory valuation, Inventory is to be valued at lower of cost or net realizable…

Business

Accounting

Item Baskets: Innova Discraft Disc bags: Lightning Wham-O Units Ending inventory 10 20 15 14 Unit Cost Market $224 212 34 42 $232 182 31 40 (a) Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis.

Item Baskets: Innova Discraft Disc bags: Lightning Wham-O Units Ending inventory 10 20 15 14 Unit Cost Market $224 212 34 42 $232 182 31 40 (a) Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis.

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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Calculate cost of goods sold and ending inventory for Emergicare's bandages orders using FIFO, LIFO and average cost. There are 37 units in ending inventory. Note: Do not round intermediate calculations, such as average cost per unit values. Round your answers to the nearest cent. Date January 1 April 1 June 1 September 1 Total FIFO LIFO Average cost Units Cost per purchased unit Total cost 51 $ 8.10 $ 413.10 46 7.35 338.10 61 7.10 433.10 56 7.60 425.60 214 $ 1,609.90 Cost of goods sold Ending inventory
Skysong Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,500 1,200 1,100 1,300 1,000 800 3,300 1,300 Cost per Unit $3.39 2.86 4.77 3.82 2.39 3.18 1.91 4.98 Cost to Replace $3.18 2.44 3.92 3.29 2.12 2.86 1.70 5.51 Estimated Selling Cost of Completion and Price Disposal $0.37 The amount of Skysong Company's inventory $ $4.77 3.71 5.30 3.39 3.45 4.03 2.65 6.36 From the information above, determine the amount of Skysong Company inventory. 0.53 0.42 0.27 0.85 0.42 0.80 0.53 Normal Profit $1.33 0.53 1.06 0.95 0.64 0.53 0.53 1.06
Calculate cost of goods sold and ending inventory for Emergicare’s bandages orders using FIFO, LIFO and average cost. There are 37 units in ending inventory. Note: Do not round intermediate calculations, such as average cost per unit values. Round your answers to the nearest cent. Date Units purchased Cost per unit Total cost January 1 56 $ 6.80 $ 380.80 April 1 51 6.05 308.55 June 1 66 5.80 382.80 September 1 61 6.30 384.30 Total 234 $ 1,456.45 FIFO cost of goods sold and ending inventory (2 answers) LIFO cost of goods sold and ending inventory (2 answers) Average cost cost of goods sold and ending inventory (2 answers)
Can anyone help me these question, PA11 and PA12?
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