Presented below is information related to Nash Inc.'s inventory. (per unit) Skis Boots Parkas Historical cost $209.00 $116.60 $58.30 Selling price 233.20 159.50 81.13 Cost to sell 20.90 8.80 2.75 Cost to complete 35.20 31.90 23.38 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers 2 decimal places, e.g. 52.75.) Item Skis $ Boots Parkas Cost NRV $ $ LCNRV

Presented below is information related to Nash Inc.'s inventory. (per unit) Skis Boots Parkas Historical cost $209.00 $116.60 $58.30 Selling price 233.20 159.50 81.13 Cost to sell 20.90 8.80 2.75 Cost to complete 35.20 31.90 23.38 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers 2 decimal places, e.g. 52.75.) Item Skis $ Boots Parkas Cost NRV $ $ LCNRV

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Description: Answer with correct explanation calculation clearly for all steps and answer in text form Presented below is information related to Nash Inc.'s inventory.(per unit)SkisBootsParkasHistorical cost$209.00$116.60$58.30Selling price233.20159.5081.13Cost

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 11PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...

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