Presented below is information related to Waterway Inc's inventory. (per unit) Skis Boots Parkas Historical cost $370.50 $206.70 $103.35 Selling price 413.40 282.75 143.81 Cost to sell 37.05 15.60 4.88 Cost to complete 62.40 56.55 41.44 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRY 2 decimal places, e.g. 52.75.) Item Cost NRV LCNRV Skis %24 %24 Boots Parkas

Presented below is information related to Waterway Inc's inventory. (per unit) Skis Boots Parkas Historical cost $370.50 $206.70 $103.35 Selling price 413.40 282.75 143.81 Cost to sell 37.05 15.60 4.88 Cost to complete 62.40 56.55 41.44 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRY 2 decimal places, e.g. 52.75.) Item Cost NRV LCNRV Skis %24 %24 Boots Parkas

Name: Presented below is information related to Waterway Inc.'s inventory.|
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Description: Presented below is information related to Waterway Inc.'s inventory.| (per unit) | Skis | Boots | Parkas ||-------------------|----------|---------|---------|| Historical cost | $370.50 | $206.70 | $103.35 || Selling price | 413

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 selected information related to Bonita Electronics' inventory. (per unit) HDTV-50" HDTV-42" TV Stand Historical cost $ 496 $ 354 $71 Selling price 636 388 93 Cost to sell 37 18 3 Cost to complete 61 28 8 Determine the following: (a) the net realizable value for each item, and (b) the carrying value of each item under LCNRV. (a) (b) NRV LCNRV HDTV-50" HDTV-42" TV Stand %24 %24
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