Revise your calculations based on the new information provided below and then answer the questions that follow. Number of Units 4,800 4,100 2,500 2,700 Inventory Item A Item B Item C Item D Unit Cost Unit NRV $29 $28 54 60 55 52 28 Required: 1. Based on the new information, prepare the journal entry required: 2. Change the Unit Cost for Item A to $30 and prepare the journal entry required:
Revise your calculations based on the new information provided below and then answer the questions that follow. Number of Units 4,800 4,100 2,500 2,700 Inventory Item A Item B Item C Item D Unit Cost Unit NRV $29 $28 54 60 55 52 28 Required: 1. Based on the new information, prepare the journal entry required: 2. Change the Unit Cost for Item A to $30 and prepare the journal entry required:
Chapter3: Setting Up A New Company
Section: Chapter Questions
Problem 4.8C
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Transcribed Image Text:Revise your calculations based on the new information provided below and then answer the questions that follow.
Number of
Units
4,800
4,100
2,500
2,700
Inventory
Item A
Item B
Item C
Item D
Unit Cost Unit NRV
$29
$28
54
60
55
28
52
25
Required:
1. Based on the new information, prepare the journal entry required:
2. Change the Unit Cost for Item A to $30 and prepare the journal entry required:
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