Exercise 9-01X Your answer is incorrect. Try again.The inventory of Nash Company on December 31, 2020, consists of the following items.QuantityCost per Unit$98.0061.80PartNet Realizable Value110600$103.0011192054.0011249082.40175.1078.00113220185.40120360214.00121a1221,500320211.0016.00247.201.00242.00a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap.a(a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item.Inventory as of December 31, 2020340100(b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory.Inventory as of December 31, 2020346,380

Name: Exercise 9-01X Your answer is incorrect. Try again.The inventory of N
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Description: Exercise 9-01X Your answer is incorrect. Try again.The inventory of Nash Company on December 31, 2020, consists of the following items.QuantityCost per Unit$98.0061.80PartNet Realizable Value110600$103.0011192054.0011249082.40175.1078.00113220185.40

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Your answer is incorrect. Try again. The inventory of Nash Company on December 31, 2020, consists of the following items. Part Quantity 600 920 Cost per Unit $98.00 61.80 Net Realizable Value $103.00 54.00 110 111 112 490 82.40 78.00 113 120 220 360 175.10 211.00 185.40 214.00 121. 122 1.500 320 16.00 247.20 1.00 242.00 * Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item. Inventory as of December 31, 2020 340100 (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2020 346,380

Your answer is incorrect. Try again. The inventory of Nash Company on December 31, 2020, consists of the following items. Part Quantity 600 920 Cost per Unit $98.00 61.80 Net Realizable Value $103.00 54.00 110 111 112 490 82.40 78.00 113 120 220 360 175.10 211.00 185.40 214.00 121. 122 1.500 320 16.00 247.20 1.00 242.00 * Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item. Inventory as of December 31, 2020 340100 (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2020 346,380

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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