Question: Green Leaf Company had the following information available on December 31: Table 1-66 Item Units Cost Total cost Market Total market Wheel 100 $32.10 $ 3,210 $33.00 $ 3,300 Shovels 320 14.00 4,480 12.00 3,840 Gloves 80 8.60 688 9.40 752 Hoses 140 11.00 1,540 10.50 1,470 $ 9,918 $ 9,362 Management applies the LCM rule on the basis of the total inventory. What is the write-down required? Select one: a. $864. b. $556. c. $576. d. $710
Question: Green Leaf Company had the following information available on December 31: Table 1-66 Item Units Cost Total cost Market Total market Wheel 100 $32.10 $ 3,210 $33.00 $ 3,300 Shovels 320 14.00 4,480 12.00 3,840 Gloves 80 8.60 688 9.40 752 Hoses 140 11.00 1,540 10.50 1,470 $ 9,918 $ 9,362 Management applies the LCM rule on the basis of the total inventory. What is the write-down required? Select one: a. $864. b. $556. c. $576. d. $710
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter12: Differential Analysis And Product Pricing
Section: Chapter Questions
Problem 12.16E: Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that...
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![Question:
Green Leaf Company had the following information available on
December 31:
Table 1-66
Item
Units Cost
Total cost Market
Total market
Wheel
100 $32.10
$ 3,210
$33.00
$ 3,300
Shovels
320 14.00
4,480
12.00
3,840
Gloves
80
8.60
688
9.40
752
Hoses
140
11.00
1,540
10.50
1,470
$ 9,918
$ 9,362
Management applies the LCM rule on the basis of the total inventory.
What is the write-down required?
Select one:
a. $864.
b. $556.
c. $576.
d. $710](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F630df492-aa02-4410-bfc2-6affb0de1937%2F24bb1e85-f086-4125-99b6-3d87f5da0b3d%2F4qux78c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question:
Green Leaf Company had the following information available on
December 31:
Table 1-66
Item
Units Cost
Total cost Market
Total market
Wheel
100 $32.10
$ 3,210
$33.00
$ 3,300
Shovels
320 14.00
4,480
12.00
3,840
Gloves
80
8.60
688
9.40
752
Hoses
140
11.00
1,540
10.50
1,470
$ 9,918
$ 9,362
Management applies the LCM rule on the basis of the total inventory.
What is the write-down required?
Select one:
a. $864.
b. $556.
c. $576.
d. $710
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