Do fast of this question answer general accounting XYZ Manufacturing Co. produces specialized storage containers. At theend of the fiscal year, the company encounters inventory challenges:••Original Inventory Cost: $75 per unit.Market Selling Price: $55 per unitRestoration Costs: $20 per unit (to make containers market-ready)Problem StatementCalculate the net realizable value and inventory write-down amount perunit.

Step 1: Define Net Realizable Value (NRV) and Inventory Write-DownNet Realizable Value (NRV) is the…

Answered: XYZ Manufacturing Co. produces…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 17P

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Marzan Company uses LIFO and a perpetual inventory system for its leading product, Z. Given the historical cost of product Z is $22, the selling price of product Z is $25, costs to sell product Z are $3, the replacement cost for product Z is $21, and the normal profit margin is 40% of sales price, what is the amount that should be used to value the inventory under the lower-of-cost-or-market method? O $18 $20 $21 $22
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Akira Company had the following transactions for the year. Sales for the year are $25 per unit. Number of units Cost per Unit Beginning Inventory 150 $10 Purchased Mar. 31 160 12 Purchased Oct. 15 130 15 Ending Inventory 50 ? In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using periodic inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$".…
Apply mathematical skills around cost structures and appropriate equations to answer the following, inclusive of all associated workings to maximise marks: Opening Inventory + Purchases – Closing Inventory = Cost of Sales (CoS).Gbholan Co made sales of $1,930,200 during the year ended 31st March X4. Inventory decreased by $132,000 over the year and all sales were made at a mark-up of 25%.What was the cost of purchases during the year, to the nearest $100?
A firm utilizes a periodic inventory cost system with a Last-In, First-Out (LIFO) cost flow assumption. What does the firm report as the lower of cost or market for the following two items? Item A Item B Costs to have inventory ready for sale $4 $0 Current Cost to Replace $50 $55 Estimated Selling Price $62 $70 Estimated Normal Profit Margin $12 $12 Cost per the accounting record $60 $60 Group of answer choices Item A: $46, Item B: $55 Item A: $46, Item B: $58 Item A: $46, Item B: $60 Item A: $50, Item B: $55 Item A: $50, Item B: $58
A company uses the Economic Order Quantity (EOQ) model to establish reorder quantities. The following information relates to the forthcoming period: Order costs = $25 per order Holding costs = 10% of purchase price = $4/unit Annual demand = 20,000 units Purchase price = $40 per unit EOQ = 500 units No safety inventory are held. What are the total annual costs of inventory (ie the total purchase cost plus total order cost plus total holding costs)? A $22,000 B $33,500 C $802,000 D $803,000
What is the value of the ending inventory?
A-2

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