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The December 31, 2025 inventory of Sheridan Company consisted of four products, for which certain information is provided below. Normal Profit on Original Cost Estimated Disposal Cost Sales $31.00 $14.00 27% $49.00 $17.00 32% $127.00 $30.00 $26.00 $12.00 Product A B C D Product Determine the lower of cost or net realizable value amount for each product. B C D $ $ $ $ Replacement Cost LCNRV $29.00 $47.00 $122.00 $22.80 Expected Selling Price $47.00 $55.00 $197.00 $33.00 37% 17%

The December 31, 2025 inventory of Sheridan Company consisted of four products, for which certain information is provided below. Normal Profit on Original Cost Estimated Disposal Cost Sales $31.00 $14.00 27% $49.00 $17.00 32% $127.00 $30.00 $26.00 $12.00 Product A B C D Product Determine the lower of cost or net realizable value amount for each product. B C D $ $ $ $ Replacement Cost LCNRV $29.00 $47.00 $122.00 $22.80 Expected Selling Price $47.00 $55.00 $197.00 $33.00 37% 17%

FINANCIAL ACCOUNTING
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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The December 31, 2025 inventory of Sheridan Company consisted of four products, for which certain information is provided below. Normal Profit on Original Cost Estimated Disposal Cost Sales $31.00 $14.00 27% $49.00 $17.00 32% $127.00 $30.00 $26.00 $12.00 Product A B C D Product Determine the lower of cost or net realizable value amount for each product. B C D $ $ $ $ Replacement Cost LCNRV $29.00 $47.00 $122.00 $22.80 Expected Selling Price $47.00 $55.00 $197.00 $33.00 37% 17%
Transcribed Image Text:The December 31, 2025 inventory of Sheridan Company consisted of four products, for which certain information is provided below. Normal Profit on Original Cost Estimated Disposal Cost Sales $31.00 $14.00 27% $49.00 $17.00 32% $127.00 $30.00 $26.00 $12.00 Product A B C D Product Determine the lower of cost or net realizable value amount for each product. B C D $ $ $ $ Replacement Cost LCNRV $29.00 $47.00 $122.00 $22.80 Expected Selling Price $47.00 $55.00 $197.00 $33.00 37% 17%
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