Data related to the inventories of Alpine Ski Equipment and Supplies is presented below:SkisBoots ApparelSuppliesSelling price$ 165,000$151,000$ 116,000$ 78,000Cost139,000137,00075,40054,600Replacement cost132,000122,00095,40050,600Sales commission1010%10%10%In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at:

Answer: $1,39,000 calculate Net Realizable value. Net Realizable Value = (Sale price - sales…

Answered: Skis Вoot Selling price $ 165,000 Cost…

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Skis Вoot Selling price $ 165,000 Cost 139,000 Replacement cost 132,000 Sales commission 10 %

Principles of Accounting Volume 2

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ISBN:9781947172609

Author:OpenStax

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Chapter5: Process Costing

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Question

Data related to the inventories of Alpine Ski Equipment and Supplies is presented below:
Skis
Boots Apparel
Supplies
Selling price
$ 165,000
$
151,000
$ 116,000
$ 78,000
Cost
139,000
137,000
75,400
54,600
Replacement cost
132,000
122,000
95,400
50,600
Sales commission
10
10
%
10
%
10
%
In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at:

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Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Apparel $101,000 Supplies $66,000 46,200 42,200 Selling price $174,000 $166,000 142,000 120,000 Cost 138,000 134,000 65,650 Replacement cost Sales commission 85,650 10% 10% 10% 10% In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at: Multiple Choice $113,100. $138,000. $156,600. $134.000.
Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Supplies $75,000 Apparel Selling price $170,000 $148,000 $101,000 Cost 147,000 148,000 65,650 48,750 Replacement cost 116, 000 129,000 85,650 44,750 Sales commission 10% 10% 10% 10% In applying the lower of cost or net realizable value rule, the inventory of boots would be valued at Multiple Choice $96,200. $133.200. O S129,000o. $148,000
Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Apparel Supplies Selling price $ 180,000 $ 140,000 $ 120,000 $ 60,000 Cost 128,000 133,000 90,000 45,000 Replacement cost 120,000 130,000 110,000 41,000 Sales commission 10 % 10 % 10 % 10 % In applying the lower of cost or net realizable value rule, the inventory of boots would be valued at: A) $140,000. B) $133,000. C) $126,000. D) $130,000.
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