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 Decemb 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.
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 Decemb 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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
Z
Cost
$ 45,250
18,500
16,700
89,700
158,500
75,800
6,900
41,200
$452,550
SP
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F272d3191-fa54-4ea9-b6f8-85b168273ffe%2Fd2b35f4a-79c3-4ae9-b230-73d186b0dce8%2F24tbhsg_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
Z
Cost
$ 45,250
18,500
16,700
89,700
158,500
75,800
6,900
41,200
$452,550
SP
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.
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