Wusang Company installs replacement siding, windows, and louvered glass doors for family homes. At December 31, 2020, the balance of raw materials inventory account was P502,000, and the allowance for inventory writedown was P33,000. The inventory cost and market data at December 31, 2020, are as follows: Norma l Profit Aluminum siding Cost Replacement Cost Sales Price Net Realizabl e value 89,000 86,000 91,500 87,000 5,000 Mahogany siding 94,000 92,000 93,000 85,000 7,000 Louvered glass door 125,000 135,000 129,000 111,000 10,000 Glass windows 194,000 114,000 205,000 197,000 20,000 Total 502,000 427,000 518,500 480,000 32,000 The correct balance of the raw materials inventory after any allowance for write down is
Wusang Company installs replacement siding, windows, and louvered glass doors for family homes. At December 31, 2020, the balance of raw materials inventory account was P502,000, and the allowance for inventory writedown was P33,000. The inventory cost and market data at December 31, 2020, are as follows: Norma l Profit Aluminum siding Cost Replacement Cost Sales Price Net Realizabl e value 89,000 86,000 91,500 87,000 5,000 Mahogany siding 94,000 92,000 93,000 85,000 7,000 Louvered glass door 125,000 135,000 129,000 111,000 10,000 Glass windows 194,000 114,000 205,000 197,000 20,000 Total 502,000 427,000 518,500 480,000 32,000 The correct balance of the raw materials inventory after any allowance for write down is
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44.Wusang Company installs replacement siding, windows, and louvered glass doors for family homes. At December 31, 2020, the balance of raw materials inventory account was P502,000, and the allowance for inventory writedown was P33,000. The inventory cost and market data at December 31, 2020, are as follows:
Norma
l Profit
Aluminum siding
Cost Replacement Cost
Sales Price
Net
Realizabl e value
89,000 86,000 91,500 87,000 5,000
Mahogany siding 94,000 92,000 93,000 85,000 7,000 Louvered glass
door 125,000 135,000 129,000 111,000 10,000 Glass windows 194,000 114,000 205,000 197,000 20,000 Total 502,000 427,000 518,500 480,000 32,000
- The correct balance of the raw materials inventory after any allowance for write down is
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