Problem 2 The Bertolo Corporation has eight items in inventory at December 31, 20x4. Cost data on each item of inventory is as follows: Required a) b) A101 A105 A109 B202 B203 B205 C101 C102 Cost $ 45,250 18,500 16,700 89,700 158,500 75,800 6,900 41,200 $452,550 Selling Price $ 54,300 22,200 20,900 125,600 166,500 98,500 7,900 50,600 $546,500 Cost to sell $ 2,800 5,550 2,100 6,300 25,000 19,700 2,000 4,500 $67,950 Calculate the cost of the inventory that would appear on the balance sheet as at December 31, 20x4. If a write-down of inventory is required, write the journal entry. At December 31, 20x5, Bertolo had $45,000 of item B203 on hand that was on hand at December 31, 20x4. The selling price and cost to sell of this inventory is $62,000 and $8,000 respectively. Write the journal entry at December 31, 20x5.

Problem 2 The Bertolo Corporation has eight items in inventory at December 31, 20x4. Cost data on each item of inventory is as follows: Required a) b) A101 A105 A109 B202 B203 B205 C101 C102 Cost $ 45,250 18,500 16,700 89,700 158,500 75,800 6,900 41,200 $452,550 Selling Price $ 54,300 22,200 20,900 125,600 166,500 98,500 7,900 50,600 $546,500 Cost to sell $ 2,800 5,550 2,100 6,300 25,000 19,700 2,000 4,500 $67,950 Calculate the cost of the inventory that would appear on the balance sheet as at December 31, 20x4. If a write-down of inventory is required, write the journal entry. At December 31, 20x5, Bertolo had $45,000 of item B203 on hand that was on hand at December 31, 20x4. The selling price and cost to sell of this inventory is $62,000 and $8,000 respectively. Write the journal entry at December 31, 20x5.

Name: Problem 2b)The Bertolo Corporation has eight items in inventory at De
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Description: Problem 2b)The Bertolo Corporation has eight items in inventory at December 31, 20x4. Cost data on eachitem of inventory is as follows:Requireda)A101A105A109B202B203B205C101C102Cost$ 45,25018,50016,70089,700158,50075,8006,90041,200$452,550SellingPri

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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