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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

FINANCIAL ACCOUNTING
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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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
Transcribed Image Text: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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